Investor Presentaiton
Central America:
For the years ended December 31, 2013 and 2012, an analysis of the liabilities associated
with termination benefits in Central America is as follows:
At December 31, 2013, the actuarial assumptions used in the actuarial study for each
country are as follows:
Country
Defined benefit obligation
December 31,
December 31,
2013
2012
Costa Rica
Ps.
73,892 Ps.
62,522
Guatemala
534,557
564,658
Honduras
80,526
77,342
Nicaragua
El Salvador
Total
11,781
12,798
50,079
53,738
Ps.
750,835 Ps.
771,058
Country
Discount
rate
Salary
increase
rate
Mexico
7.50%
5.25%
Costa Rica
10.12%
5.50%
Guatemala
8.50%
4.50%
Honduras
13.29%
6.00%
Nicaragua
12.99%
7.50%
El Salvador
8.30%
3.10%
For the years ended December 31, 2013 and 2012, an analysis of the cost of termination
benefits in Central America is as follows:
Country
Current-year service cost
December 31,
December 31,
2013
2012
Net interest
December 31,
2013
December 31,
2012
Costa Rica
Ps.
13,328 Ps.
47,289 Ps.
Guatemala
67,935
53,825
14,297 Ps.
39,712
Honduras
16,878
16,802
8,210
8,968
42,175
7,844
Nicaragua
4,069
4,489
1,483
1,639
El Salvador
10,898
Total
Ps.
113,108 Ps.
11,076
133,481 Ps.
3,532
67,234 Ps.
5,146
65,772
Termination benefits paid out for the year ended December 31, 2013 were Ps. 161,318
(Ps. 147,720 in 2012).
15.- EQUITY:
a. At ordinary and extraordinary meetings held on March 14, 2013, the shareholders adopted
the following resolutions:
1. Approval of a cap of Ps. 5,000,000 on the amount the Company would use in 2013 to
repurchase its own shares.
2. Cancellation of 24,917,540 series "V" shares resulting from the repurchase of shares.
3. Increase in the legal reserve of Ps. 1,163,758 to be charged to retained earnings.
4. A declared cash dividend of Ps. 0.46 pesos per share to be paid on April 23, 2013 and
two extraordinary cash dividends of Ps. 0.29 pesos per share and Ps. 0.17 pesos per
share to be paid on April 23 and on November 26, 2013, respectively.
5. Approval of the comprehensive amendment to the Company's bylaws.
b. At ordinary and extraordinary meetings held on March 27, 2012, the shareholders adopted
the following resolutions:
1. Approval of a cap of Ps. 5,000,000 on the amount the Company would use in 2012 to
repurchase its own shares.
2. Cancellation of 100,997,000 series "V" shares resulting from the repurchase of shares.
3. Increase in the legal reserve of Ps. 1,112,692 to be charged to retained earnings.
4. A declared cash dividend of Ps. 0.44 pesos per share and an extraordinary cash dividend
of Ps. 0.11 pesos per share. Both dividends were to be paid on April 30, 2012.
2013 Financial and
Social Responsibility Report
81View entire presentation