Shareholders of Grupo Comercial Chedraui – the majority of whom are members of the extended Chedraui Obeso family – voted April 6, 2020 to take up to 927 million pesos out of the company through a 427 million peso dividend to be paid April 17 plus up to 500 million pesos in share buybacks over the course of 2020.
Update May 4, 2020: The Chedraui family’s share of the maximum payout would have amounted to at least 480 million pesos, or roughly 19 million dollars at current rates. The Chedraui family owned through a trust about 52.9% of the company on April 30, 2020 according to Grupo Chedraui’s 2019 annual report.
April 9, 2020 version: The Chedraui family’s share of the maximum payout would amount to at least 550 million pesos, or roughly 22 million dollars at current rates, assuming they retain at least 60% of the company. (The most recent percentage reported was 64.7% as of 12/31/2018. An updated percentage is expected with the release of Grupo Chedraui’s 2019 annual report.)
The entire planned 2020 dividend and buyback total (927 million pesos) converts to about $37 million dollars total at current rates as of the date of this posting: About $17 million dollars in dividends plus about $20 million in buybacks at the current, historically low exchange rate.
Documents:
Shareholder meeting resolutions – Meeting date: April 6, 2020