Carlos Slim Gets $565 Million Payday on Cigarette Dividend

Billionaire Carlos Slim, the world’s second-richest person, is getting about 7.3 billion pesos ($565 million) in cash as his holding company distributes the proceeds from the sale of its cigarette business.

Grupo Carso SAB, of which Slim controls 80 percent, approved a special dividend of 4 pesos a share, the company said yesterday in a filing. The company agreed in May to sell its 20 percent holding in a Mexican joint venture to co-owner Philip Morris International Inc. (PM) for about $700 million.

Slim opted to distribute the proceeds to himself and other investors instead of using the cash for Carso’s businesses, which include retail, construction and industrial materials. Arturo Elias, a spokesman for the billionaire, didn’t immediately respond to a phone message seeking comment on the decision.

Carso rose 1.9 percent to 69.92 pesos at the close in Mexico City. The shares have climbed 12 percent this year, compared with a 6.6 percent decline for the benchmark IPC index.

Slim, 73, has a net worth of $68.7 billion, trailing only Bill Gates on the Bloomberg Billionaires Index.

To contact the reporter on this story: Patricia Laya in New York at

To contact the editor responsible for this story: Nick Turner at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.