Mexican Airport Group Delays Dividend Payment

4 May 2010 (Last Updated May 4th, 2010 18:30)

Grupo Aeroportuario del Pacifico (GAP) is to delay its quarterly dividend payment as shareholders disapproved of the measure at a meeting following a legal dispute. Shareholders would not approve the proposed dividend due to a court order that blocked Aeropuertos Mexicanos del Pacifico, t

Grupo Aeroportuario del Pacifico (GAP) is to delay its quarterly dividend payment as shareholders disapproved of the measure at a meeting following a legal dispute.

Shareholders would not approve the proposed dividend due to a court order that blocked Aeropuertos Mexicanos del Pacifico, the holder of GAP's BB series shares, from voting.

AMP controls GAP's management and has the right to veto certain shareholder resolutions.

The company said it would defer paying the dividend and reducing the outstanding amount of the shareholders equity until issues raised during the meeting were resolved.

GAP operates 12 airports in Mexico including Lic Jesús Terán Peredo International Airport, General Abelardo L Rodriguez International Airport, General Rodolfo Sanchez Taboada International Airport among others.