Anheuser-Busch InBev (AB InBev) has released an update on its share buy-back program, revealing significant progress in repurchasing its own shares.
Share Buy-Back Program Overview
AB InBev initiated a share buy-back program on October 31, 2023, authorizing an independent financial intermediary to repurchase AB InBev shares worth 1 billion USD over a 12-month period. The company recently disclosed details of the purchases made between February 12, 2024, and February 16, 2024.
Recent Share Repurchases
In the specified period, AB InBev bought back 562,205 shares on the Euronext Brussels exchange. These purchases amounted to a total of €32,930,487.31 (approximately 578,421,812.85 South African Rand) at an average price of €58.5738 per share. The breakdown of repurchases per day is as follows:
| Date | Number of Shares | Total Amount (EUR) | Total Amount (USD) | Average Price (EUR) |
|---|---|---|---|---|
| 12-Feb-24 | 79,897 | €4,767,736.03 | $5,151,062.00 | €59.6735 |
| 13-Feb-24 | 103,866 | €6,187,275.81 | $6,664,314.77 | €59.5698 |
| 14-Feb-24 | 265,624 | €15,443,597.17 | $16,538,548.21 | €58.1408 |
| 15-Feb-24 | 5,858 | €340,176.75 | $365,111.71 | €58.0705 |
| 16-Feb-24 | 106,960 | €6,191,701.55 | $6,662,890.04 | €57.8880 |
Overall Progress
Since the launch of the share buy-back program in November 2023, AB InBev has repurchased a total of 13,591,355 shares for €786,799,848.88 (approximately 13,795,108,185.19 South African Rand). This accounts for 0.67% of the total shares outstanding.
Implications
Share buy-back programs are commonly employed by companies to demonstrate confidence in their financial position and to enhance shareholder value. By repurchasing its own shares, AB InBev aims to optimize its capital structure and improve returns for its investors.
Future Updates
AB InBev intends to provide regular updates on the progress of its share buy-back program. Interested stakeholders can access the overview on the AB InBev website, with updates scheduled on a weekly basis.
Conclusion
The recent update on AB InBev’s share buy-back program underscores the company’s commitment to enhancing shareholder value. With significant progress made in repurchasing shares, AB InBev aims to leverage this strategy to drive long-term growth and prosperity.
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