CEMEX announced its quarterly results for Q2 2018 last week, and included in this was an announcement as follows
“With the objective of accelerating our path to investment grade and enhancing total shareholder return, today we are announcing “A Stronger CEMEX”, a plan designed to reposition our portfolio toward higher growth. During the next 2.5 years, we will work to optimise our portfolio by focusing on markets with the greatest long-term growth potential and selling between US$1.5 and 2 billion of assets. We will also implement actions to achieve US$150 million in cost savings as an opportunity to continue improving our profitability. Furthermore, we will reduce our total debt by US$3.5 billion by the end of 2020, and we will return capital to our shareholders through an annual cash dividend starting with US$150 million in 2019.”
The full press release is available from: https://www.cemex.com/media/press-releases
To listen to our CEO Fernando Gonzalez explaining our Q2 2018 results and “A Stronger CEMEX” in more detail, you can watch the webcast to shareholders at this link: https://www.cemex.com/earnings-webcast-2q18
If you require any further information, please contact your Line Manager.