29 April 2015
Methanol to Olefins (MTO)
Methanol to Ethylene
Methanol to Propylene
Methanol-to-Gasoline (MTG)
Methanol-to-Aromatics (MTA)
VIEW Methanex Investor Presentation March 2015
DETAILS
(the "Company") (TSX:MX)(NASDAQ:MEOH)
announced today that its Board of Directors has approved
a 10 percent increase in its quarterly dividend to shareholders,
from US$0.25 per share to US$0.275 per share.
The increased dividend will apply to the dividend payable
on June 30, 2015 to holders of common shares of record
on June 16, 2015.
The Company is also pleased to announce today that
its Board of Directors has approved a new normal course issuer bid
to commence on May 6, 2015 and end no later than May 5, 2016.
Under the new bid, the Company is able to
purchase for cancellation over the facilities of the TSX and
alternative trading systems in Canada up to 4,554,115 common shares,
representing approximately 5% of the 91,082,312 shares issued and
outstanding as at April 29, 2015.
Under the normal course issuer bid initiated by
the Company on May 6, 2014 and expiring on May 5, 2015,
the Company has repurchased for cancellation 5,674,397 common shares
at a weighted average price of US$56.74.
President and CEO of Methanex,
"This is the eleventh time that we have increased our dividend
since its inception in 2002. The increase to our regular dividend
reflects our continued confidence
in the outlook for our business and the methanol industry."
"Our announcement of a new share repurchase program,
along with the increase in the dividend,
reflects our balanced approach to the utilization of cash and
builds on our long track record of returning excess cash
to shareholders.
With approximately $600 million of cash on hand
at the end of the first quarter of 2015 and
increased cash generation capability with
the start-up of the Geismar 1 plant,
we have the financial strength and flexibility
to meet our commitments for
our Geismar 2 project and
continue to return excess cash to shareholders."
WWW.CHEMWINFO.COM BY KHUN PHICHAI
