“Altria adds $2.4 billion to share repurchase kitty, lifts earnings forecast on AB InBev stake sale”
March 20, 2024
“Altria Group expanded its share buyback program by $2.4 billion and raised its annual profit forecast on Thursday, after the Marlboro maker agreed to sell about 10% of its stake in brewer Anheuser-Busch InBev…
The company now expects 2024 adjusted earnings per share to be between $5.05 and $5.17 per share, compared with its prior expectation of $5 to $5.15.
The sale of around 35 million AB InBev shares, along with the brewer’s repurchase of shares worth $200 million from Altria, would generate around $2.4 billion, the company said…”
https://finance.yahoo.com/news/altria-adds-2-4-billion-151603836.html
Who in their right mind would buy shares of Anheuser-Busch? They’re the woke business that produces Bud Light for those of you who don’t know. In any case that company is not a good investment. The only thing woke companies can do is lose money.