March 2008
InBev S.A.’s (Euronext: INB) Board of Directors announces that it has proposed a series of measures designed to significantly enhance the company’s capital structure. These proposed actions are consistent with and reinforce InBev’s commitment to value creation, as a result of the company's margin expansion and strong cash flow generation. These capital structure decisions will not restrict us from pursuing any value creating transaction should the opportunity arise.
The current dividend policy allows for the payment of, on average, between 25% and 33% of the previous fiscal year’s net profit. Going forward, the Board is implementing a more progressive dividend approach in which the 33% maximum payout is removed. InBev’s Board, accordingly proposes to pay a dividend of 2.44 Euro per share, subject to shareholder approval.
In addition, the share buy-back program for up to 300 million Euro of InBev shares, announced on 21 January 2008, has been concluded, with a total amount of 207 million Euro purchased. Today, InBev has announced a new buy-back program of InBev shares for an amount of up to 500 million Euro, for a period of 12 months.
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