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Nemak holds Annual Shareholders’ Meeting
Monterrey, Mexico. February 25, 2020. — Nemak, S.A.B. de C.V. ("Nemak" or "the Company") (BMV: NEMAK), held its Annual General Shareholders' Meeting today. Armando Garza Sada, Chairman of the Board, and Armando Tamez, CEO, presented a report on the company's results for 2019, which was approved by the shareholders.
In the shareholders' meeting, the payment of a cash dividend of US$0.0164 per share for the shares outstanding was also approved. In total, the dividend payment amounts to approximately US$50 million and will be paid in four equal installments this year on the following dates: April 1, July 1, October 1, and December 18. Additionally, shareholders appointed the members of Nemak’s Board of Directors and approved a maximum amount of $2.5 billion Mexican pesos for share buybacks in 2020, among other resolutions.
Nemak is a leading provider of innovative lightweighting solutions for the global automotive industry, specializing in the development and manufacturing of aluminum components for powertrain, e-mobility, and structural applications. In 2019, it generated revenue of US$4.0 billion. For more information about Nemak, visit www.nemak.com