Anheuser-Busch Cos. Inc. plans to repurchase 100 million shares of stock over the next several years, the nation’s largest beer-maker said Wednesday.
In the same announcement released Wednesday, Anheuser-Busch reiterated that it continues to target earnings per share growth over the long term of 7 percent to 10 percent. And, the brewery plans to reduce its cash flow to total debt target from the previous range of 30 percent to 40 percent to the 25 percent to 30 percent range.
President and Chief Executive Officer August Busch IV said the more aggressive leverage target would help support existing operations, acquisitions dividend growth and share repurchasing, but will still maintain financial flexibility.