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Quálitas Controladora proposes dividend payment, 550M peso share repurchase

Quálitas Controladora SAB de CV's shareholders will vote in an April 18 meeting to reduce the company's share capital with the cancellation of 15,000,000 shares, as a part of a program for which the board also proposes a 550.0 million Mexican peso share repurchase.

In addition, the company's board proposes a dividend payment of 304.5 million pesos, or 70 centavos per share, which would be paid out on April 30, according to a statement.

In January, the shareholders of Quálitas Controladora approved a proposal to double the size of the company's share repurchase program by 300.0 million Mexican pesos to 600.0 million pesos.

As of March 19, US$1 was equivalent to 18.74 Mexican pesos.