Carlsberg: launches new share buybacks, lifts dividend
(CercleFinance.com) - Danish brewer Carlsberg said on Tuesday that it will begin a new share buy-back program and increase its dividend by 17%.
The maker of Carlsberg, Tuborg, and Kronenbourg brands said 2019 net profit rose 23.7% to 6.6 billion Danish kronor.
The company reported revenue of 65.9 billion Danish kronor, up 5.4%, with organic growth of 3.2%.
Organic volume growth reached 0.1%, with Tuborg volumes up 2%, while Carlsberg volumes fell 3%, Grimbergen up 3%, 1664 Blanc up 29%, and Somersby up 14%.
The Copenhagen-based group - which has completed its 2019 share buy-back program - said it will begin a new 12-month share buy-back programme worth 5 billion Danish kronor.
Carlsberg said it will propose a 17% increase in dividend to 21 Danish kronor per share, equal to an adjusted payout ratio of approximately 50%.
Regarding 2020, the group said it expects mid-single-digit percentage organic growth in operating profit.
After these announcements, which investors seemed to like, the Carlsberg stock was up 1.8% in morning trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The maker of Carlsberg, Tuborg, and Kronenbourg brands said 2019 net profit rose 23.7% to 6.6 billion Danish kronor.
The company reported revenue of 65.9 billion Danish kronor, up 5.4%, with organic growth of 3.2%.
Organic volume growth reached 0.1%, with Tuborg volumes up 2%, while Carlsberg volumes fell 3%, Grimbergen up 3%, 1664 Blanc up 29%, and Somersby up 14%.
The Copenhagen-based group - which has completed its 2019 share buy-back program - said it will begin a new 12-month share buy-back programme worth 5 billion Danish kronor.
Carlsberg said it will propose a 17% increase in dividend to 21 Danish kronor per share, equal to an adjusted payout ratio of approximately 50%.
Regarding 2020, the group said it expects mid-single-digit percentage organic growth in operating profit.
After these announcements, which investors seemed to like, the Carlsberg stock was up 1.8% in morning trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.