Carso pays $700 mln dividend after Mexico cigarette business sale

MEXICO CITY Mon Oct 21, 2013 6:29pm EDT

MEXICO CITY Oct 21 (Reuters) - Mexican billionaire Carlos Slim's Grupo Carso on Monday said it will pay out a special dividend of around $700 million after selling its share of Philip Morris International's Mexico business.

The dividend of 4 pesos per share is worth about 9.159 billion pesos ($708.26 million), based on the number of shares outstanding in Carso and reported to Mexico's stock exchange.

The payout reflects the proceeds that Carso, a conglomerate that holds construction, retail and energy businesses, received for its 20 percent stake in Marlboro maker PMI's local unit earlier this year.

Most of that cash will go to Slim's family, which directly or indirectly owns 79.61 percent of Carso, according to its 2012 annual report.