FILE PHOTO: The emblem of Anheuser-Busch InBev pictured outdoors the brewer’s headquarters in Leuven, Belgium, February 28, 2019. REUTERS/Francois Lenoir/File Photograph

BRUSSELS (1) – Anheuser-Busch InBev (ABI.BR), the world’s largest brewer, proposes to halve its final dividend and has postponed its annual shareholder assembly owing to uncertainty across the COVID-19 pandemic.

The maker of Budweiser, Corona and Stella Artois on Tuesday mentioned that it’s proposing to pay a final 2019 dividend of 0.50 euros per share, down from the 1 euro it had initially proposed. It paid an interim dividend of 0.80 euros in November.

The halved final dividend will save the corporate about 1 billion euros ($1.1 billion) and assist to ease the debt burden from its 2016 buy of SABMiller for about $100 billion.

On the finish of 2019 AB InBev’s web debt stood at $95.5 billion.

The brewer additionally mentioned its annual shareholder assembly will probably be pushed back to June three from April 29, which signifies that cost of its final dividend will probably be postponed to June 11 from early Might.

The corporate, the biggest markets of that are the USA and Brazil, withdrew its 2020 outlook steering three weeks in the past..

Reporting by Philip Blenkinsop; Enhancing by David Goodman