Anheuser-Busch InBev, the global beverage giant boasting a portfolio of over 500 beer brands, provided an update on its ongoing share buy-back program yesterday.
The company disclosed that it had repurchased 1,160,995 of its shares on the Euronext stock exchange in Brussels between January 1, 2024, and January 5, 2024.
This development marks a continuation of the $1 billion, 12-month share buy-back initiative announced by AB InBev on October 31, 2023. The shares were acquired at an average price of €58.6676 (approximately R1196) per share during this period, resulting in a total consideration of €68.11 million.
Since the commencement of the share buy-back program on November 13, 2023, Anheuser-Busch InBev has successfully repurchased 7,269,939 shares, amounting to a total expenditure of €418.11 million. This constitutes approximately 0.36% of the total shares outstanding.
Notably, the group, known for iconic brands like Budweiser, Corona, and Stella Artois, witnessed a 0.18% decline in its stock price on the Johannesburg Stock Exchange (JSE) midday yesterday. The closing price stood at R1212.51, reflecting a 17% increase compared to the same day in the previous year.
Anheuser-Busch InBev clarified its intention to retain the acquired shares as treasury shares, emphasizing their purpose in fulfilling future share delivery commitments under the stock ownership plans. The execution of this program is in line with the powers granted at the General Meeting of Shareholders on April 28, 2021, as outlined by the company last October.
Investors and industry observers continue to closely monitor the progress of AB InBev’s share buy-back program, considering its substantial financial commitment and potential impact on the company’s overall financial position and strategic outlook.