GRUMA pays a cash dividend of Ps 0.70 per share, representing a dividend yield of 3.6%.
  Standard and Poor’s Ratings Services raises GRUMA’s credit rating to BBBwith a stable outlook.
  Gruma Corporation’s acquisition of Ovis Boske, a tortilla company based in the Netherlands, strengthens GRUMA’s European presence.
  Gruma Corporation acquires 51% of Nuova De Franceschi & Figli, an Italian corn flour company that serves the corn chip, cereal, and beer industries in Germany, Poland, Croatia, Israel, and Saudi Arabia, among other countries.
Gruma Corporation’s Mission Foods division is named 2004 Wholesale Baker of the Year by Snack Food & Wholesale Bakery magazine.
  Fitch Ratings assigns to GRUMA a rating of BBB- with a stable outlook.
  GRUMA obtains a US$250 million, 5-year syndicated senior credit facility, using the proceeds to extend debt maturities.
  Gruma Corporation acquires a tortilla plant in Las Vegas, Nevada.
 


GRUMA issues US$300 million in perpetual bonds—the first ever perpetual bonds issued in the global emerging-markets private sector—using the proceeds mostly to extend debt maturities. The bond was named Best International Corporate Bond by Latin Finance magazine in its February 2005 issue.

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