The company, controlled by the family of billionaire Carlos Slim<\/a>, said in a statement the fund's balance for the period of April 2022 to April 2023 would be 36.6 billion pesos.
Shareholders<\/a> also approved a dividend of 0.44 pesos per share, payable in one installment on Aug. 29, 2022, to each of the shares of its capital stock series AA, A and L, the statement said.
Company officials said last year that after a number of transactions, including the sale of its TracFone<\/a> wireless unit to Verizon Communications Inc<\/a>, the company aimed to expand its share buybacks.
Last year, America Movil<\/a> also increased the balance of its buyback fund by 26 billion pesos for the period of April 2021 to April 2022.
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