Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (NASDAQ:OMAB; BMV:OMA), also known as OMA, has announced that it will pay the second installment of its previously declared dividend on November 20, 2024. The payment follows the resolutions from the Annual General Ordinary Shareholders’ Meeting on April 26, 2024, which approved a total cash dividend of Ps.4,250 million.
The first installment, amounting to Ps.2,125 million or Ps.5.447159838 per share, was distributed on May 23, 2024. The upcoming second installment will also be Ps.2,125 million, maintaining the same per-share amount. Shareholders registered in OMA’s share registry by the record date of November 19, 2024, will be eligible for the dividend, which applies to both share and American Depositary Shares (ADSs) holders.
Payments will be processed at the offices of S.D. Indeval, Institución para el Depósito de Valores, S.A. de C.V. (INDEVAL) in Mexico City. OMA, which operates 13 international airports across nine states in central and northern Mexico, has emphasized that this report may contain forward-looking statements based on current expectations and projections about future events. The company has reminded investors that such forward-looking information is subject to risks and uncertainties that could cause actual results to differ materially from those anticipated.
The announcement from OMA is based on information contained in a report filed with the United States Securities and Exchange Commission as per the requirements of the Securities Exchange Act of 1934. The report was signed by Ruffo Pérez Pliego, the Chief Financial Officer of OMA, on November 6, 2024.
In other recent news, Grupo Aeroportuario del Centro Norte, known as OMA, has been proactive in managing a cybersecurity incident that took place in October 2024. The company has reported no significant impact on its operations or financial position.
OMA has also seen notable changes in its financial performance, including a 5.3% decrease in passenger traffic in the third quarter of 2024, offset by a 1.4% growth in combined aeronautical and non-aeronautical revenues. The company's consolidated net income for the quarter was Ps.1,385 million, a slight decrease of 2.1% from the previous year.
Scotiabank (TSX:BNS) and Morgan Stanley (NYSE:MS) have recently adjusted their stance on OMA's stock, upgrading it from Sector Underperform to Sector Perform and Equal-weight to Overweight respectively. This suggests a more neutral view of the company's stock. OMA has also confirmed Deloitte as the external auditor for the fiscal year ending December 31, 2024, reinforcing its commitment to transparency and adherence to international accounting standards.
These recent developments indicate OMA's resilience in the face of challenges, its commitment to maintaining robust security measures, and its ability to sustain revenue growth despite a dip in passenger traffic. The company continues to assess and respond to these developments in line with its strategic objectives and operational requirements.
InvestingPro Insights
OMA's dividend announcement aligns with its strong financial position, as reflected in recent InvestingPro data. The company's impressive gross profit margin of 68.39% for the last twelve months as of Q3 2024 underscores its operational efficiency. This robust profitability supports OMA's ability to maintain its significant dividend payments, with a current dividend yield of 10.78%.
InvestingPro Tips highlight that OMA "pays a significant dividend to shareholders" and is a "prominent player in the Transportation Infrastructure industry." These factors contribute to the company's attractiveness for income-focused investors. Additionally, OMA's P/E ratio of 12.81 suggests it's trading at a relatively low earnings multiple, potentially indicating value for investors.
For those seeking a deeper understanding of OMA's financial health and market position, InvestingPro offers 7 additional tips, providing a comprehensive analysis to inform investment decisions.
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