Mexico's Vitro to propose share dividend

The Monterrey-based company, which saw fourth-quarter operating profit fall to 477 million pesos ($52.6 million), from 796 million in the year-ago period, said the dividend will be proposed at its March 14 meeting.As the third order of business for the meeting, Vitro will submit "the consideration and resolution of an agreement to decree a 0.25-pesos-per-share dividend," the company said in a statement.Vitro said on Monday that it agreed to sell its 51 percent stake in Vitromatic SA, an appliance manufacturing and distribution company located in Mexico, to Whirlpool Corp., and use the resources to strengthen its financial position and operations. ( $1 equals 9.06 pesos) Mexican glass maker Vitro SA said early on Tuesday that it will propose a 0.25 pesos-per-share dividend to investors at its annual shareholders meeting in March.

The Monterrey-based company, which saw fourth-quarter operating profit fall to 477 million pesos ($52.6 million), from 796 million in the year-ago period, said the dividend will be proposed at its March 14 meeting.

As the third order of business for the meeting, Vitro will submit "the consideration and resolution of an agreement to decree a 0.25-pesos-per-share dividend," the company said in a statement.

Vitro said on Monday that it agreed to sell its 51 percent stake in Vitromatic SA, an appliance manufacturing and distribution company located in Mexico, to Whirlpool Corp., and use the resources to strengthen its financial position and operations. ( $1 equals 9.06 pesos)