UPDATE 1-Mexico's Walmex posts 18 pct lower fourth-quarter profit
(Adds sales and dividend)
MEXICO CITY Feb 16 (Reuters) - Mexico's No. 1 retailer, Wal-Mart de Mexico, on Tuesday reported an 18 percent lower fourth-quarter profit as sales costs rose despite a pickup in sales.
The company, known locally as Walmex, reported a profit of 8.472 billion pesos ($492.215 million), compared with a profit of 10.387 billion pesos in the year-earlier quarter.
Revenue for the quarter was 145.914 billion pesos, 12.7 percent higher than the year-earlier period.
Same-store sales - sales at stores open more than a year - rose 8.6 percent in Mexico in the period, the fastest pace in eight years.
Walmex in January said it would sell its clothing chain, Suburbia, to focus on its core business, part of a wider effort that has included the sale of the company's restaurants and bank unit.
The retailer also appointed a new chief executive in January, naming former Brazil boss Guilherme Loureiro as head of Wal-Mart de Mexico y Centroamerica.
Walmart said it would offer a 1.68 peso extraordinary dividend per share in its next shareholder meeting. ($1 = 17.2120 pesos at end December) (Reporting by Gabriela Lopez; Editing by Matthew Lewis)
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