Shareholders in the Mexican brewer Grupo Modelo have approved a cash dividend of 0.5412 peso per share from 2002 profits - a 55.3% increase in real terms over the dividend paid the previous year.

The one-time payment will be made from April 28th, covering all 3.25 billion shares in circulation and would total 1.76 billion pesos (US$167m), equivalent to 41.6% of net profits in 2002.

Modelo is half owned by the world's leading brewer Anheuser-Busch.

22 April, 2003