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These things happen but it still didn’t help that the Dow dropped 600 points on the same day that he Belgian brewing giant halved its dividend in an effort to pay off the debt from its SABMiller acquisition.
Here’s the deal…
“AB InBev’s shares fell 11% this morning after the Belgian brewing giant halved its dividend in an effort to pay off the debt from its SABMiller acquisition,” according to the Drinks Business.
The announcement by the world’s largest brewer that it would cut its earnings per share for the first time in three years, would allow the company an around $ billion which will be used to pay off some of the $108 billion debt it incurred in its SABMiller acquisition.
The notice came as part of the company issuing its third Quarter results which saw its sales rise 4.5% between January and September this year, against a weaker beer volumes.
AB InBev, whose portfolio include brands like Budweiser, Leffe, Corona and Becks, saw its beer volumes rise a weaker than expected 0.6%, while non-beer volumes fell 3.1%.
But, much like Heineken, AB InBev’s Western European sales benefited from both the World Cup unusually warm temperatures over the summer.
All image credits: AB InBev
