Anheuser-Busch Enjoys Healthy Sales, Profits

Anheuser-Busch Enjoys Healthy Sales, Profits
By Christopher Leonard/AP Business Writer

ST. LOUIS - Anheuser-Busch Cos. Inc., the nation's largest brewer, said Wednesday that higher beer prices and stronger demand helped push its profit up 6.1 percent in the second quarter on a similar rise in sales.

The maker of Budweiser, Bud Light and other beers earned $677 million, or 88 cents per share, in the three months ended June 30, up from $638 million, or 82 cents per diluted share, in the same period in 2006. Net sales after excise taxes also rose 6.1 percent to $4.52 billion from $4.26 billion.

The company, which operates a brewery in Fairfield, also said its board has raised the regular quarterly dividend rate by 11.9 percent to 33 cents from 29.5 cents per share. The higher rate is payable Sept. 10 to shareholders of record on Aug. 9.

Anheuser-Busch shares rose 47 cents to close at $49.59 on Wednesday.