America Movil to Split Stock 2 for 1, Make Dividend Payment
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America Movil SAB, the largest mobile-phone company in the Americas, proposed a 2-for-1 stock split and a dividend of 36 centavos a share, returning cash to stockholders after completing a $23 billion acquisition in 2010.
The proposals will be submitted for shareholder approval at a meeting by April 30, Mexico City-based America Movil said today in an e-mailed statement. The wireless carrier also plans to increase its share repurchase fund by 50 billion pesos ($4.18 billion), adding to the 35 billion pesos currently in the fund, according to company filings.