EMERGING MEXICO FUND ANNOUNCES ANNUAL DIVIDEND
EMERGING MEXICO FUND ANNOUNCES ANNUAL DIVIDEND NEW YORK, Dec. 16 /PRNewswire/ -- The Emerging Mexico Fund, Inc.
(NYSE: MEF) today declared a dividend of $2.723 per share payable on Jan. 10, 1992 to shareholders of record on Dec. 27, 1991. The ordinary income dividend amount represents $0.324 of net investment income and $2.399 of net short-term capital gains.
Under the fund's dividend reinvestment plan, shareholders may elect to have their dividends reinvested in additional shares of the fund. Participation in the plan is completely voluntary and may be terminated or resumed at any time by providing written notice to Provident National Bank, the dividend agent for the fund, not less than 10 days prior to the dividend record date of Dec. 27, 1991. A brochure explaining the plan, was mailed to each shareholder in early December. Additional brochures can be obtained by calling toll-free 800-852-4750. As of Nov. 30, 1991, the fund had total net assets of $102.2 million, with approximately $88.3 million invested in listed Mexican equity securities, representing 86.4 percent of net assets. As of Nov. 30, the fund's ten largest Mexican common stock holdings (in descending order) were in: Telefonos de Mexico, S.A. de C.V. Cifra, S.A. de C.V. Cementos Mexicanos, S.A. de C.V. Empresa Tolteca de Mexico, S.A. de C.V. Vitro, S.A. de C.V. Grupo Carso, S.A. de C.V. Fomento Economico Mexicano, S.A. de C.V. Kimberly Clark de Mexico, S.A. de C.V. Cementos Apasco, S.A. de C.V. Grupo Industrial Bimbo, S.A. de C.V. The Emerging Mexico Fund is a non-diversified, closed-end investment management company whose objective is long-term capital appreciation through investment primarily in Mexican equity securities. Up to 25 percent of the fund's total assets may consist of equity securities issued by non-listed Mexican companies. The balance of the fund's assets not invested in Mexican equity securities are invested in peso or U.S. dollar-denominated fixed-income securities. The fund's investment adviser is Santander Management Inc., a wholly owned subsidiary of Banco Santander. On Dec. 12, 1991, the net asset value per share of the fund's common stock was $19.39 and the closing price on the New York Stock Exchange on Dec. 13, 1991 was $17.875. -0- 12/16/91 /CONTACT: Bruce D. Katz of Emerging Mexico Fund, 212-713-2928, or Marissa Moretti of Dewe Rogerson, 212-688-6840, for Emerging Mexico Fund/ (MEF) CO: Emerging Mexico Fund, Inc. ST: New York IN: FIN SU: DIV
SM-OS -- NY078 -- 2649 12/16/91 16:26 EST
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|Date:||Dec 16, 1991|
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