America Movil to increase funds for share buybacks in 2015

martes 17 de marzo de 2015 19:20 GYT

MEXICO CITY, March 17 (Reuters) - Latin America's largest telecoms company, America Movil, on Tuesday said it wanted to raise the amount of money in its share buyback fund to 35 billion pesos ($2.28 billion) for 2015, from 30 billion pesos last year.

The company, which is controlled by the family of billionaire Carlos Slim, will also propose an ordinary dividend of 0.26 pesos per share and an extraordinary dividend of 0.30 pesos per share.

Last year, America Movil shares soared in the months after it surprised the market by saying it aimed to avoid a regulatory crackdown in its home market of Mexico by selling some assets.

The shares have fallen around 7 percent so far in 2015.

Both the dividends and share buyback fund increase are subject to shareholder approval at a meeting due before April 30. ($1 = 15.3800 Mexican pesos) (Reporting by Christine Murray)