Genomma Lab Internacional, S.A.B. de C.V. informs that the Company filed a Notice of Rights with the Mexican Stock Exchange declaring a cash dividend of $0.381679389 Mexican pesos per share on its common stock representing a total amount of $ 400,000,000.00 M.N., payable to shareholders of record at the close of business on November 11, 2022.
MEXICO CITY, Oct. 26, 2022 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) (“Genomma Lab” or “the Company”), one of the leading pharmaceutical and personal care product companies in Mexico with an expanding international presence, informs that the Company filed a Notice of Rights with the Mexican Stock Exchange (Bolsa Mexicana de Valores) declaring a cash dividend of $0.381679389 Mexican pesos per share on its common stock representing a total amount of $ 400,000,000.00 M.N. (four hundred million pesos 00/100 National Currency), payable to shareholders of record at the close of business on November 11, 2022. This amount is based on the total LABB shares currently in circulation. This payment is in addition to the dividends paid previously on December 10, 2021 and on June 08, 2022.
The Company has reported that all lines in the Personal Care Manufacturing Plant are currently in operation and are in the ramp up process. No significant additional Capex will be required.
Genomma’s Board of Directors, exercising the powers delegated at the last Annual General Shareholders Meeting, have therefore deemed it appropriate to make today’s announced third payment, also signaling the next phase of shareholder value generation. Genomma Lab and its Board of Directors express their continued appreciation for the trust of its shareholders and financial providers, including the International Finance Corporation (IFC) and the Inter-American Development Bank (IDB).
It’s important to note that the above dividend payment is derived from the Net Tax Profit Account (CUFIN) prior to 2014.
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of Premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development process, consumer oriented marketing, a broad retail distribution network and a low–cost, highly flexible supply chain operating model. For more information visit: www.genommalab.com
Genomma Lab’s shares are listed on the Mexican Stock Exchange under the ticker “LABB” (Bloomberg: LABB:MM).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays, supply chain disruptions and other impacts to the business, or on the Company’s ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products attained by competitors; challenges inherent in new product development; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws; changes in behavior and spending patterns of purchasers of products and services; financial instability of international economies and legal systems and sovereign risk. A further list and descriptions of these risks, uncertainties and other factors can be found within the Company’s related filings with the Bolsa Mexicana de Valores. Any forward-looking statement made in this release speaks only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Genomma Lab Internacional, S.A.B. de C.V.
Company Codes: Mexico:LABB
