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SUBSEQUENT EVENTS:
12 Months Ended
Dec. 31, 2018
SUBSEQUENT EVENTS:  
SUBSEQUENT EVENTS:

NOTE 19-SUBSEQUENT EVENTS:

 

DIVIDENDS:

 

On January 24, 2019, the Board of Directors authorized a dividend of $0.40 per share paid on February 26, 2019, to shareholders of record at the close of business on February 12, 2019.

 

In addition, as part of the settlement of claims brought on behalf of the Company and its shareholders against Grupo Mexico, AMC and certain current and former directors (together with Grupo Mexico and AMC, the "Defendants") a dividend of $0.44428 per share was paid on February 21, 2019 to shareholders of record at the close of business on February 11, 2019, other than the Defendants. The settlement dividend, totaling $36.5 million is an obligation of Grupo Mexico and AMC and therefore, have been funded by them. In addition Grupo Mexico and AMC paid $13.5 million of legal fees. For more information, please see "Litigation matters-Corporate operations" in Note 12 "Commitments and Contingencies" of this Item. 

 

NEW MEXICAN ENVIRONMENTAL TAX:

 

On February 2019, the Mexican Supreme Court confirmed the constitutionality of an ecological tax to extractive activities developed in the state of Zacatecas, which taxes the environmental remediation actions, emissions of certain gases to the atmosphere, emissions of pollutant substances to the soil or water, and waste storage within the state territory. The Company is evaluating the potential impact of this new environmental regulation in its financial position.