Vitro, S.A. de C.V. Holds General Shareholders' Meeting

Vitro S.A. de C.V. held its General Ordinary Shareholders Meeting which approved the Company's 2002 financial results, elected the members of the Board of Directors and the Examiners for the year 2003 and resolved to pay a cash dividend of Ps $0.36 (thirty six cents) per common share.

The cash dividend will be paid from April 21, 2003 and on, in exchange of coupon # 62 from the item Cuenta de Utilidad Fiscal Neta (Net Tax Income Account), therefore, is not subject to a withholding tax pursuant to the current Mexican Income Tax Law.In addition, in accordance with the latest modifications of the "Ley del Mercado de Valores" (Mexican Securities Exchanges Law), the General Ordinary Shareholders Meeting approved a Ps $2 billion reserve out of the account Utilidades Acumuladas (Accumulated Net Income) to use up to that amount during 2003 to purchase its own shares.Vitro, S.A. de C.V., through its subsidiary companies, is one of the world's leading glass producers.Vitro is a major participant in three principal businesses: flat glass, glass containers, and glassware. Its subsidiaries serve multiple product markets, including construction and automotive glass; fiberglass; food and beverage, wine, liquor, cosmetics and pharmaceutical glass containers; glassware for commercial, industrial and retail uses; plastic and aluminum containers. Vitro also produces raw materials, and equipment and capital goods for industrial use.

600450 Vitro, S.A. de C.V. Holds General Shareholders' Meeting glassonweb.com
Date: 28 March 2003
Source: Stockwatch.com

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