America Movil plans up to 3 billion pesos in share buybacks

Mexican billionaire Carlos Slim smiles during a news conference in Mexico City

MEXICO CITY (Reuters) – Mexican billionaire Carlos Slim’s America Movil said on Tuesday it plans to ask shareholders at an April 5 meeting to approve up to 3 billion pesos ($158 million) in share buybacks between April 2017 and April 2018.

America Movil will also propose a dividend of 0.30 pesos per share, the company said in a filing with the Mexican stock exchange.

(Reporting by Anahi Rama)