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Shareholders of Mexican glass giant Vitro approved on Thursday the payment of a dividend of 0.25 peso per share.

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.

Vitro, the Mexican conglom-erate, sold its 51 per cent stake in Vitromatic, the white goods company, to Whirlpool of the US yesterday, in a deal valued at about Dollars 280m.

Demand for flat glass in the United States is forecast to rise three percent per year to almost seven billion square feet in 2005, valued at $9.1 billion.

Mexican glassmaker Vitro said that its third quarter operating profit fell sharply, hit by the strong peso currency and an economic slowdown at home and in the United states.