Heineken: raises dividend, upbeat for 2020
(CercleFinance.com) - Heineken, the world's second-largest brewer, on Wednesday increased its dividend and forecast higher revenues and profits for 2020.
The brewer of Heineken, Tiger and Sol beers said it would propose a dividend of 1.68 euro per share for 2019, above the 1.60 euro it paid out in 2018.
In 2019, net profit rose to 2.4 billion euros, from 2.1 billion euros in 2018, on net revenue that increased to 23.9 billion euros from 22.5 billion euros in the previous year.
Consolidated beer volume rose by 3.1%, with volume at Heineken up 8.3%, the brand's best performance in over a decade.
Heineken said it expects to deliver higher top-line growth in 2020, driven by volume, price and premiumisation, as well as mid-single digit growth in operating profit on an organic basis.
The market raised more than a glass on this news - Heineken shares were up 6.6% at 104 euros on Euronext Amsterdam this morning, easily outperforming peers in the STOXX Europe 600 Food & Beverage index.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The brewer of Heineken, Tiger and Sol beers said it would propose a dividend of 1.68 euro per share for 2019, above the 1.60 euro it paid out in 2018.
In 2019, net profit rose to 2.4 billion euros, from 2.1 billion euros in 2018, on net revenue that increased to 23.9 billion euros from 22.5 billion euros in the previous year.
Consolidated beer volume rose by 3.1%, with volume at Heineken up 8.3%, the brand's best performance in over a decade.
Heineken said it expects to deliver higher top-line growth in 2020, driven by volume, price and premiumisation, as well as mid-single digit growth in operating profit on an organic basis.
The market raised more than a glass on this news - Heineken shares were up 6.6% at 104 euros on Euronext Amsterdam this morning, easily outperforming peers in the STOXX Europe 600 Food & Beverage index.
Copyright (c) 2020 CercleFinance.com. All rights reserved.