By Aida Pelaez-Fernandez
MEXICO CITY, Feb 27 (Reuters) – Shares of Mexican broadcaster Grupo Televisa were on track for their worst day this year on Friday, as the company canceled its regular dividend for 2026.
“Considering several opportunities in the telecom sector in Mexico that we’re currently exploring, our Board of Directors approved suspending the payment of our regular dividend in 2026,” Televisa’s Cable and Sky CEO, Francisco Valim, told analysts on a conference call.
Executives specified that the company is actively exploring opportunities in the telecommunications sector, but said they were not able to comment on specifics.
For 2026, Valim stated that Televisa expects the capital expenditures to sales ratio at close to 25%.
Friday’s share decline of 7.5% wiped off 2.1 billion pesos ($122.08 million) from the company’s market capitalization.
NO PROFIT SINCE 2022
On Thursday, Televisa reported losses and missed analysts’ expectations on its fourth-quarter results.
The world’s largest producer of Spanish-language content reported it had narrowed its net loss in the fourth quarter to 7.68 billion pesos (about $807.9 million), missing expectations of analysts polled by LSEG, who predicted that Televisa would return a narrow dollar-denominated profit of $1.52 million.
Televisa’s results were “marked by challenging top-line growth trends but with a continued improvement in profitability levels,” Santander analysts said in a note.
Televisa last posted an annual profit in 2022. In 2023 and 2024, it logged annual losses surpassing 8 billion pesos.
($1 = 17.2020 Mexican pesos)
(Reporting by Aida Pelaez-Fernandez in Mexico City, Editing by Natalia Siniawski and Matthew Lewis)
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