MEXICO CITY – Mexico's Telmex Internacional, a new spinoff of telecommunications company Telmex, said on Monday it would propose a cash dividend of 0.15 peso per share at its July 9 shareholder meeting.

The dividend will be made in two payments, the company said in a statement.

The amount does not include the cash dividend approved by parent company Telefonos de Mexico at its April 25 shareholder meeting, the statement said.

Telmex Internacional debuted this month and groups Telmex's South American cable, Internet and phone operations in a $16 billion business separate from Telmex's fixed-line operations. (Reporting by Mica Rosenberg)