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Mexican Coca-Cola bottler FEMSA has released additional information regarding its future capital allocation plans. FEMSA plays a significant role in bottling Coca-Cola products across several countries in Latin America through its subsidiary, Coca-Cola FEMSA (KOF). These plans, approved by FEMSA's board of directors, align with its 'FEMSA Forward' strategy. FEMSA's capital allocation strategy is focused on driving long-term intrinsic per-share value. Over the next five years, the company plans to invest more than MXN 237 billion (approx. $13.89 billion) in core organic growth initiatives, with nearly MXN 170 billion (approx. $9.96 billion) of the investment directed towards Mexico. As one of Mexico's largest employers and taxpayers, with over 280,000 employees, FEMSA anticipates paying over MXN 100 billion (approx. $5.86 billion) in total income taxes for fiscal years 2023 to 2028. The company also plans to invest in projects with good risk-reward balances, emphasising value creation and cash flow. Inorganic investments will align with FEMSA's core goals and be carefully evaluated based on financial criteria. Furthermore, subject to business performance and capital deployment opportunities, FEMSA aims to return to shareholders an aggregate amount equivalent to approximately 6% of its current public market value over the next two to three years. This will be accomplished through a combination of additional dividends and share buybacks, beyond the ordinary dividend. To return capital to shareholders in 2024 and beyond, FEMSA plans to utilise dividends and a multi-year share buyback programme. The board of directors approved proposals for submission at the 2024 annual shareholders meeting. This includes an approximate 20% increase in ordinary dividends compared to 2023, disbursed in four quarterly instalments and payment of an additional dividend in four quarterly instalments alongside the approved ordinary dividends. Additionally, the maximum share buyback capacity will be doubled from the current authorisation.