Ambev SA (ABEV) Announces Dividend Increase – $0.10 Per Share
Ambev SA (NYSE:ABEV) announced a special dividend on Thursday, December 7th, Wall Street Journal reports. Investors of record on Wednesday, December 20th will be given a dividend of 0.0958 per share on Monday, January 8th. The ex-dividend date of this dividend is Tuesday, December 19th. This is a positive change from Ambev’s previous special dividend of $0.05.
Ambev (ABEV) traded up $0.04 on Thursday, reaching $6.34. The company had a trading volume of 13,259,000 shares, compared to its average volume of 21,074,391. Ambev has a fifty-two week low of $4.73 and a fifty-two week high of $7.03. The company has a market capitalization of $98,916.95, a price-to-earnings ratio of 27.39 and a beta of 0.70. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.08.
Several research firms recently issued reports on ABEV. BidaskClub lowered Ambev from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 28th. Evercore ISI set a $9.00 target price on Ambev and gave the stock a “buy” rating in a report on Sunday, October 15th. Zacks Investment Research upgraded Ambev from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Monday, October 2nd. Barclays restated an “equal weight” rating and issued a $7.00 price objective (up previously from $6.00) on shares of Ambev in a research note on Friday, October 27th. Finally, TheStreet lowered Ambev from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Ambev presently has a consensus rating of “Hold” and an average price target of $7.83.
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Ambev SA, formerly Inbev Participacoes Societarias SA, is a Brazil-based company engaged in the brewing sector. The Company produces and sells beer, carbonated soft drinks (CSDs) and other non-alcoholic and non-carbonated (NANC) beverages across the Americas. The Company’s activities are divided into three segments: Latin America North, including sell of beer, CSD and NANC drinks in Brazil, as well as operations in Dominican Republic, Saint Vincent, Antigua, Dominica, Guatemala, El Salvador, Nicaragua and Cuba; Latin America South, distributing products in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia, and Canada, represented by Labatt’s operations, which comprises sales in Canada.
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