Carlsberg: stock up after dividend, buyback announcements

(CercleFinance.com) - The Carlsberg stock jumped Wednesday following news that the Danish brewery group would increase its dividend and begin share buybacks.


Having posted "strong" results this morning, the Copenhagen-based company announced a 13% increase in dividend to 18 Danish kronor per share and a share buyback program of 4.5 billion Danish kronor.

In all, the moves will lead to cash returns of 7.2 billion Danish kronor to shareholders for the year, it said.

For 2018, which was marked by the World Cup in Russia and favourable weather, adjusted net profit grew by 9% to 5.35 billion Danish kronor, on organic net sales growth of 6.5%.

For 2019, Carlsberg expects mid-single-digit percentage organic growth in operating profit.

The shares are currently up 3.5%.

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