AB Inbev receives increased dividend payout from Zim's Delta
AB InBev is set to get an improved dividend paycheck after Delta Corporation, its Zimbabwean associate, improved its dividend payout ratio to 80% for the six months to end September 2016.
- Jabu Mabuza to chair AB InBev and SABMiller's merged African division.
- AB InBev reports drop in earnings.
Matts Valela (pictured), Delta's financial director, speaking at a results briefing last week, said the beverages company had decided to increase the dividend payout as a means of managing its cash pile.
In total, Delta will pay an interim dividend of $25 million to its shareholders - this in addition to the $4.3 million spent on share buybacks. This equates to a dividend of 2c/share to its shareholders, which includes AB InBev. Delta is owned more than 38% by AB InBev.
Delta said its new shareholders were keen on the business and would give priority to Zimbabwe before other African business. Pearson Gowero, Delta's CEO, also speaking at the results briefing, confirmed that that AB InBev is completely behind the Zimbabwean business unit.