CEMEX details 1998 dividend payment option
May 26, 1998
CEMEX, S.A. de C.V. (CMXBY:OTC) today announced details regarding the dividend approved by shareholders at the annual general shareholders meeting on April 23, 1998. Under the program approved by shareholders, shareholders of CEMEX A, B, and CPO series shares can elect to receive a cash dividend of Ps. 1.00 per share or its equivalent in CPOs (representing series A shares) valued at a price of Ps. 33.3333 per CPO (3 new CPOs for every 100 shares of any series). The CPO value represents approximately 80% of the weighted average closing market price on the three trading days preceding April 21, 1998.
The dividend election process is outlined below:
The right to elect the dividend in the form of cash or series A CPO ADRs will be offered only to those ADR holders of record on May 18 through June 18, 1998. Therefore, ADR holders of record on June 18 only, will be entitled to receive the dividend solely in the form of cash. To receive the dividend in the form of CPOs, ADR shareholders must complete and return a "Dividend Election Form" as instructed. The CPO ADRs or cash dividend will be delivered on June 26, 1998 per instructions received on the dividend election form.
To coordinate the dividend election process, ordinary shareholders must contact their respective Mexican brokerage houses before June 18, 1998.
For Further Information Contact:
ADR Holders: Morgan Guaranty Trust Company: (781) 575-4328
CEMEX Investor Relations: (528) 328-3000, Carlos Jacks x3393 or Bradley Johns x3305
Ludgate Communications: (212) 688-5144, Kristin Anderson
For media inquiries, please contact Anthony Greco of Ketchum PR at (212) 448-4219
Founded in 1906, CEMEX is the largest cement producer in the Americas and one of the three most important producers of cement in the world, with a production capacity of approximately 51 million metric tons per year. CEMEX is the market leader in its operations in Mexico, Spain, Venezuela, Panama, and the Dominican Republic; and has a significant presence in the markets of Colombia, the Caribbean, and the southwest region of the United States of America.