Methanex Announces A 25% Dividend Increase and A New 5% Share Repurchase Program

Methanex Announces A 25% Dividend Increase and A New 5% Share Repurchase Program 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/29/14 --  
Methanex Corporation (the "Company") (TSX: MX)(NASDAQ: MEOH)
announced today that its Board of Directors has approved a 25 percent
increase in its quarterly dividend to shareholders, from US$0.20 per
share to US$0.25 per share. The increased dividend will apply to the
dividend payable on June 30, 2014 to holders of common shares of
record on June 16, 2014. 
John Floren, President and CEO of Methanex commented, "This is the
tenth time that we have increased our dividend since its inception in
2002. The increase to our regular dividend reflects our continued
confidence in the outlook for our business and the methanol
industry." 
The Company is also pleased to announce today that its Board of
Directors has approved a Normal Course Issuer Bid ("NCIB"). The
Company will purchase for cancellation up to 4,826,197 common shares
("Shares"), representing approximately 5% of the 96,523,956 shares
issued and outstanding shares as at April 29, 2014. 
John Floren, President and CEO of Methanex commented, "Our
announcement of a new share repurchase program, along with the
increase in the dividend, reflects our balanced approach to the
utilization of cash and builds on our long track record of returning
excess cash to shareholders. Since 2000, we have repurchased
approximately 45% of the Company's shares. With approximately $700
million of cash on hand at the end of the first quarter of 2014, we
have the financial strength and flexibility to meet our commitments
for our Geismar projects, pursue investment opportunities and
continue to return excess cash to shareholders". 
Purchases pursuant to the NCIB will be made on the open market
through the facilities of NASDAQ pursuant to Rule 10b-18 under the
U.S. Securities Exchange Act of 1934. Notification of the NCIB has
been provided to NASDAQ. 
Purchases under the program will commence on May 6, 2014. Purchases
will be made from time to time at the then current market price of
the Company's common shares as traded on NASDAQ and the common shares
purchased will be cancelled. Subject to certain exceptions for block
purchases, daily repurchases under the program will not exceed 25
percent of the Company's average daily trading volume for the four
week period preceding the date of purchase. The Company has entered
into an automatic securities purchase plan with its broker in
connection with purchases to be made under this program. 
Methanex is a Vancouver-based, publicly traded company and is the
world's largest producer and supplier of methanol to major
international markets. Methanex shares are listed for trading on the
Toronto Stock Exchange in Canada under the trading symbol "MX" and on
the NASDAQ Global Market in the United States under the trading
symbol "MEOH". 
FORWARD-LOOKING INFORMATION WARNING 
This press release contains forward-looking statements with respect
to us and our industry. Statements that include the word "will", or
other comparable terminology and similar statements of a future or
forward-looking nature identify forward-looking statements. More
particularly and without limitation, any statements regarding the
following are forward-looking statements: 


 
 
--  Methanex's ability to retain the financial strength and flexibility to
    complete its Geismar project, 
--  Methanex's ability to pursue additional investment opportunities, and 
--  Methanex's ability to continue to return excess cash to shareholders. 

We believe that we have a reasonable basis for making such
forward-looking statements. The forward-looking statements in this
document are based on our experience, our perception of trends,
current conditions and expected future developments as well as other
factors. Certain material factors or assumptions were applied in
drawing the conclusions or making the forecasts or projections that
are included in these forward-looking statements, including, without
limitation, future expectations and assumptions concerning the
following: 


 
 
--  the supply of, demand for, and price of methanol, methanol derivatives,
    natural gas, coal, oil and oil derivatives, 
--  operating rates of our facilities, 
--  operating costs including natural gas feedstock and logistics costs,
    capital costs, tax rates, cash flows, foreign exchange rates and
    interest rates, and 
--  global and regional economic activity (including industrial production
    levels). 

However, forward-looking statements, by their nature, involve risks and
uncertainties that could cause actual results to differ materially
from those contemplated by the forward-looking statements. The risks
and uncertainties primarily include those attendant with producing
and marketing methanol and successfully carrying out major capital
expenditure projects in various jurisdictions, including without
limitation: 


 
 
--  conditions in the methanol and other industries including fluctuations
    in the supply, demand for and price of methanol and its derivatives,
    including demand for methanol for energy uses, 
--  the price of natural gas, coal, oil and oil derivatives, 
--  the ability to successfully carry out corporate initiatives and
    strategies, 
--  actions of competitors, suppliers and financial institutions, 
--  world-wide economic conditions, and 
--  other risks described in our 2013 Management's Discussion and Analysis
    and the First Quarter 2014 Management's Discussion and Analysis. 

Having in mind these and other factors, investors and other readers are
cautioned not to place undue reliance on forward-looking statements.
They are not a substitute for the exercise of one's own due diligence
and judgment. The outcomes anticipated in forward-looking statements
may not occur and we do not undertake to update forward-looking
statements except as required by applicable securities laws. 
Contacts:
Sandra Daycock
Director, Investor Relations
Methanex Corporation
604 661-2600
www.methanex.com
 
 
Press spacebar to pause and continue. Press esc to stop.