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A-B earnings up in 2nd quarter.

A-B earnings up in 2nd quarter

Anheuser-Busch, Cos., Inc. recently reported a second-quarter earnings-per-share increase of 13.9 percent to 82 cents a share, compared to 72 cents a share in the same 1988 period. Net income rose 10.5 percent to $233.7 million from $211.5 million.

As reported earlier, the St. Louis company also announced that beer volume in the second quarter increased 3.7 percent to a record 21.4 million barrels.

"Our volume growth remains strong and earnings continue to benefit from operating efficiencies despite material cost increases," August A. Busch III, chairman of the board and president, stated.

"Our brand families are performing well," Busch commented. "We are particularly pleased with the consumers' acceptance of Michelob Dry."

For the first six months of 1989, A-B's net income rose 10.2 percent to $400.8 million from $363.9 million in the first half of last year. Earnings per share for the six-month period increased 13.8 percent to $1.40, from $1.23 a share in the same period in 1988.

In a related announcement, the A-B board of directors recently voted to increase the quarterly cash dividend on the company's common stock to 22 cents from 18 cents per share, an increase of 22 percent. The new divident is payable September 8, to shareholders of record August 9, A-B said.
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Title Annotation:Anheuser-Busch Companies Inc.
Publication:Modern Brewery Age
Date:Aug 7, 1989
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