UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF
MARCH 2007
METHANEX CORPORATION
(Registrant’s name)
SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82 .
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NEWS RELEASE
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Methanex Corporation
1800 – 200 Burrard St.
Vancouver, BC Canada V6C 3M1
Investor Relations: (604) 661-2600
Toll-Free: 1-800-661-8851
http://www.methanex.com |
For immediate release
March 5, 2007
METHANEX GIVES NOTICE OF CASH DIVIDEND AND ANNOUNCES INCREASE IN SHARE REPURCHASE PROGRAM
Methanex Corporation announced today that its Board of Directors has declared a quarterly dividend
of US$0.125 per share that will be payable on March 31, 2007 to holders of common shares of record
on March 16, 2007. The Board has designated this dividend as an “eligible dividend” for the
purposes of Canadian tax law.
Methanex Corporation also announced today that its Board of Directors has approved an increase in
the Company’s current normal course issuer bid, increasing the maximum allowable repurchase by 2
million common shares to 7,495,763 shares, representing about 8 per cent of the public float as at
May 8, 2006. As at the close of business on March 2, 2007, the Company had repurchased 5,000,000
common shares under the bid at an average price of US$23.85 (CDN$27.17) per share.
Bruce Aitken, President and CEO of Methanex commented, “We have generated significant cash flow
from operating activities over the past year. The extension of our share repurchase program
reflects our balanced approach to the utilization of cash and demonstrates our ongoing commitment
to returning excess cash to shareholders.” Mr. Aitken added, “We have excellent financial strength
and flexibility with US$355 million in cash at the end of the fourth quarter of 2006, an undrawn
US$250 million credit facility and an outlook for continued strong cash generation.”
The normal course issuer bid repurchase program was originally filed and accepted by the Toronto
Stock Exchange (TSX) on May 9, 2006. The program is carried out through the facilities of the TSX.
Purchases under the program, which commenced on May 17, 2006, will terminate on the earlier of May
16, 2007 and the date upon which the Company has acquired the maximum number of common shares
permitted under the program or otherwise decided not to make further purchases. Purchases will be
made from time to time at the then current market price of the Company’s common shares as traded on
the TSX and the common shares purchased will be cancelled.
Methanex is a Vancouver based, publicly-traded company engaged in the worldwide production and
marketing of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in
Canada under the trading symbol “MX” and on the NASDAQ Global Market in the United States under the
trading symbol “MEOH.” Methanex can be visited online at
www.methanex.com.
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Inquiries:
Jason Chesko
Director, Investor Relations
Methanex Corporation
604-661-2600