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<SEC-DOCUMENT>0000945234-05-000354.txt : 20050506
<SEC-HEADER>0000945234-05-000354.hdr.sgml : 20050506
<ACCEPTANCE-DATETIME>20050506123711
ACCESSION NUMBER:		0000945234-05-000354
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050505
FILED AS OF DATE:		20050506
DATE AS OF CHANGE:		20050506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			METHANEX CORP
		CENTRAL INDEX KEY:			0000886977
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20115
		FILM NUMBER:		05806458

	BUSINESS ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			00000
		BUSINESS PHONE:		6046847500

	MAIL ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>o16679e6vk.htm
<DESCRIPTION>NEWS RELEASE DATED MAY 5, 2005
<TEXT>
<HTML>
<HEAD>
<TITLE>News Release Dated May 5, 2005</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">



<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 6-K</B>


<P align="center" style="font-size: 10pt"><B>REPORT OF FOREIGN PRIVATE ISSUER</B>



<P align="center" style="font-size: 10pt"><B>PURSUANT TO RULE 13a-16 OR 15d-16<BR>
UNDER THE SECURITIES EXCHANGE ACT OF 1934</B>



<P align="center" style="font-size: 10pt"><B>FOR THE MONTH OF MAY 2005</B>


<P align="center" style="font-size: 24pt"><B>METHANEX CORPORATION</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="55%" align="center" color="#000000">
<I>(Registrant&#146;s name)</I></DIV>



<P align="center" style="font-size: 10pt"><B>SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA</B>


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="60%" align="center" color="#000000">
<I>(Address of principal executive offices)</I></DIV>


<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule&nbsp;12g3-2(b) under the Securities Exchange Act of 1934.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): 82<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.



<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">




<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on behalf by the undersigned, thereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>METHANEX CORPORATION</B><BR>
&nbsp;<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: May 5, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ RANDY MILNER
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Randy Milner&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Senior Vice President, General Counsel
&#038;&nbsp;Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center">
<TABLE style="font-size: 36pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="65%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><B><I>NEWS RELEASE</I></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o16679o1667900.gif" alt="(METHANEX LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 8pt">Methanex Corporation<BR>
1800 &#150; 200 Burrard St.<BR>
Vancouver, BC Canada V6C 3M1<BR>
Investor Relations: (604)&nbsp;661-2600<BR>
http://www.methanex.com
</DIV>


<P align="left" style="font-size: 10pt"><B><I>For immediate release</I></B>



<P align="left" style="font-size: 10pt"><B>METHANEX ANNOUNCES 37.5% INCREASE IN QUARTERLY DIVIDEND AND NEW 5% SHARE BUY-BACK PROGRAM</B>



<P align="left" style="font-size: 10pt"><B>May&nbsp;5, 2005</B>


<P align="left" style="font-size: 10pt">Methanex Corporation is pleased to announce that its Board of Directors has approved a 37.5&nbsp;percent
increase in the Company&#146;s quarterly dividend to shareholders, from US$0.08 per share to US$0.11 per
share. The increased dividend will apply commencing with the dividend payable on June&nbsp;30, 2005 to
holders of common shares of record on June&nbsp;16, 2005.


<P align="left" style="font-size: 10pt">Bruce Aitken, President and CEO of Methanex commented, &#147;We are pleased to have been able to
increase our dividend for the third year in a row since its inception in 2002. The sustainability
of our dividend payout has improved as a result of the addition of our fourth plant in Chile, which
is currently in the commissioning phase. This plant will bring our total low cost production
capacity to approximately 5.8&nbsp;million tonnes per year and will improve our ability to generate cash
throughout the methanol price cycle.&#148;


<P align="left" style="font-size: 10pt">In addition, the Company&#146;s Board of Directors has also approved a new normal course issuer bid that
will commence on the expiration of its existing normal course issuer bid. Under the new bid, the
Company may repurchase up to 5,917,629 common shares of the Company representing not more than 5%
of the total shares issued and outstanding. Under the existing bid, which expires on May&nbsp;16, 2005,
the Company has purchased 8,728,900 shares as of May&nbsp;4, 2005. As of May&nbsp;4, 2005, there were
118,352,592 Methanex common shares issued and outstanding.


<P align="left" style="font-size: 10pt">Mr.&nbsp;Aitken stated, &#147;The announcement of this new normal course issuer bid is consistent with our
balanced approach to the utilization of cash and reflects our commitment to returning excess cash
to shareholders. With over US $250&nbsp;million of cash on hand at the end of the first quarter of 2005
and continued strong cash generation, we have the financial strength and flexibility to both
maintain our leadership position in the methanol industry and return excess cash to shareholders.&#148;


<P align="left" style="font-size: 10pt">The normal course issuer bid repurchase program was filed and accepted by the Toronto Stock
Exchange (TSX)&nbsp;today. The program will be carried out through the facilities of the TSX. Purchases
under the program may commence on May&nbsp;17, 2005 and will terminate on the earlier of May&nbsp;16, 2006
and the date upon which the Company has acquired the maximum number of common shares permitted
under the purchase program or otherwise decided not to make further purchases. Purchases will be
made from time to time at the then current market price of the Company&#146;s common shares as traded on
the TSX and the common shares purchased will be cancelled.


<P align="left" style="font-size: 10pt">Methanex believes that purchasing its shares under this normal course issuer bid is in the best
interests of its shareholders and represents an effective use of the Company&#146;s financial resources.
Methanex intends to finance the purchase of common shares under the bid with cash on hand.


<P align="left" style="font-size: 10pt">Methanex, based in Vancouver, is the world&#146;s largest producer and marketer of methanol. Methanex
shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol &#147;MX&#148;
and on the Nasdaq National Market in the United States under the trading symbol &#147;MEOH.&#148;



<P align="center" style="font-size: 10pt">- end -


<P><DIV style="position: relative; float: left; width: 30%">

<P align="left" style="font-size: 10pt">For further information,
contact:<BR>&nbsp;<BR>
Wendy Bach<BR>
Director, Investor Relations<BR>
Tel: 604-661-2600

</DIV>
<DIV style="position: relative; float: right; width: 65%">
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">

<P align="left" style="font-size: 8pt"><I>Information in this news release may contain forward-looking statements. By their nature, such
forwardlooking statements involve risks and uncertainties that could cause actual results to differ
materially from those contemplated by the forward-looking statements. They include world-wide
economic conditions, actions of competitors, the availability and cost of gas feedstock, the
ability to implement business strategies and pursue business opportunities, conditions in the
methanol and other industries including the supply and demand for methanol and the risks attendant
with producing and marketing methanol, integrating acquisitions and realizing anticipated synergies
and carrying out major capital expenditure projects. Please also refer to our publicly available
documents filed from time to time with securities commissions.</I>

</DIV>

</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 10pt">
</DIV>


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