BUZZ-Budweiser Brewing hits 4-month peak on higher dividend payout

Reuters
02-26
BUZZ-Budweiser Brewing hits 4-month peak on higher dividend payout

** Shares of Budweiser Brewing Company APAC 1876.HK jump as much as 13.5% to HK$8.90, highest since October 15, 2024

** Stock last up 11.4%, on track for the biggest one-day pct gains since November 2020

** Stock top pct gainer in Hang Seng Index .HSI, which is up 3.1%

** The brewer says its 2024 net profit down 15% y/y to $726 mln with revenue down 7% y/y to $6.2 bln

** However, company proposes $750 mln dividend, a 7% increase y/y, with final dividend increasing to 5.66 U.S. cents per share from 5.29 U.S. cents in 2023

** Citi says BUD APAC's core NP fell largely in line with market expectations and the brewer lifting dividend payout ratio is positive with enhanced cash return to shareholders

** Rivals also rise with China Resources Beer 0291.HK adding 2.9% and Tsingtao Brewery 0168.HK up 4.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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