Key Developments: Industrias Bachoco SAB de CV (IBA)
35.30USD
24 May 2013
$0.05 (+0.14%)
$35.25
$35.25
$35.73
$35.05
14,591
14,800
$35.73
$19.80
Latest Key Developments (Source: Significant Developments)
Industrias Bachoco SAB de CV Announces Cash Dividend
Industrias Bachoco SAB de CV announced that the Board of Directors approved a cash dividend payment for 2013. The cash dividend payment set by the Board amounts to Ps. 0.5840 per share outstanding or Ps.7.008 per ADR (equals to twelve shares). The dividend will be paid in two equal installments of Ps. 0.292 per share equivalent to Ps. 3.504 per ADR on the following dates in 2013: May 16 and July 11. Full Article
Industrias Bachoco SAB de CV Receives Notification From Comision Federal de Competencia
Industrias Bachoco SAB de CV (Bachoco) announced that in December 2009, the Comision Federal de Competencia (CFC) announced an investigation on the Mexican poultry industry regarding possible monopolistic practices. The Company was included in the investigation and was required to provide information to the CFC. As a result of that investigation, Bachoco recently received a notice from CFC, stating that the Company conspired with other local producers and distributors to fix prices, a practice that is being prohibited in the poultry industry, in the region of Yucatan Peninsula. CFC imposed a fine of approximately USD 110,000 to Bachoco. The Company announced that it disagrees with this statement and proceeds with defense in terms established by the Mexican regulation. Additionally, the Company reports that it has issued a notice to the public today. Full Article
Industrias Bachoco SAB de CV Announces Issuance of Bonds
Industrias Bachoco SAB de CV announced that it has issued bonds in a total amount of MXN 1,500 million. The bonds have an interbank equilibrium interest rate (TIIE) of +0.60% and are due to mature in 2017. Full Article
HR Ratings de Mexico SA de CV Assigns Its Long-Term Corporate Credit Ratings on Industrias Bachoco SAB de CV
HR Ratings de Mexico SA de CV announced that it has assigned its long-term corporate credit ratings on Industrias Bachoco SAB de CV of AA+. The outlook is stable. Full Article
Industrias Bachoco SAB de CV Announces Final Report On Antidumping Case
Industrias Bachoco SAB de CV announced that, following the investigation against imports of chicken leg quarters, from the United States, filed in June 2010 by Productos Agropecuarios de Tehuacan SA de CV, Buenaventura Grupo Pecuario SA de CV and Bachoco SA de CV. The Ministry of Economy (La Secretaria de Economia, SE) reported on August 6, 2012 its final decision on the case, where it determined definitively the existence of dumping and injury to the domestic poultry industry, for the sale of chicken parts of the United States origin in Mexico below the production costs and it imposed compensation fees on chicken parts imports from the United States. The fees application will be announced through a notice published by SE. Full Article
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