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Declaration of Final Dividend No. 22
Anheuser-Busch InBev SA/NV
(Incorporated in the Kingdom of Belgium)
Register of Companies Number: 0417.497.106
Euronext Brussels Share Code: ABI
Mexican Stock Exchange Share Code: ANB
NYSE ADS Code: BUD
JSE Share Code: ANH
ISIN: BE0974293251
(“AB InBev” or the “Company”)
Declaration of Final Dividend No. 22
The board of directors of AB InBev has proposed a final dividend of 2.00 EUR per share (the “Dividend”), subject to
obtaining approval by the shareholders of the Company at the Annual General Meeting to be held on Wednesday, 26 April
2017.
Proposed Timetable
2017
Dividend declaration announcement released on SENS Thursday, 2 March
Annual General Meeting of shareholders to approve the Dividend Wednesday, 26 April
Currency conversion announcement released (by 11h00 SA time) Tuesday, 2 May
Last day to trade on the Johannesburg Stock Exchange (JSE) to qualify for the Dividend Tuesday, 2 May
Ex-Dividend on Euronext from the commencement of trading on Tuesday, 2 May
Ex-Dividend on the JSE from commencement of trading on Wednesday, 3 May
Record date on Euronext Wednesday, 3 May
Dividend payable (Euronext) Thursday, 4 May
Record date on the JSE Friday, 5 May
Dividend payable (SA) Monday, 8 May
Additional information required by the JSE Listings Requirements
1. The gross amount of the Dividend will be subject to a Belgian withholding tax of 30%. Such withholding tax may be
reduced to 15% in terms of the double tax treaty in force between Belgium and South Africa. A rebate of the additional
Belgian withholding tax imposed must be claimed in accordance with the relevant reimbursement process noted
below. The Dividend will also be subject to South African dividends tax at the rate of 20%, unless a shareholder
qualifies for an exemption. Any shareholder who receives a Dividend which is subject to South African dividends tax
(i.e. where no exemption is available) will qualify for a 15% reduction in dividends tax. The ultimate result in such a
case is that a dividend will be subject to a reduced Belgian withholding tax rate of 15% and subject to South African
dividends tax at a rate of 5%.
2. At Thursday, 2 March 2017, being the declaration announcement date of the Dividend, the Company had a total of
1,934,241,973 shares in issue (excluding treasury shares). The Company held 85,000,000 ordinary shares in treasury
giving a total issued share capital of 2,019,241,973 shares (of which 1,693,242,156 ordinary shares are listed and
325,999,817 restricted shares are unlisted).
3. No transfers of shareholdings to and from South Africa will be permitted between Tuesday, 2 May 2017 and Friday, 5
May 2017 (both dates inclusive).
4. The Dividend will be paid out of the Company’s result for 2016, increased with the profits carried over, without drawing
on any reserves.
5. The Dividend is payable in South African Rand to shareholders whose shares are held through Central Securities
Participants and brokers traded on the JSE.
South African income tax and dividends tax consequences
The Dividend should be regarded as a ‘foreign dividend’ for South African income tax and South African dividends tax
purposes.
Foreign dividends received in respect of shares which are dual listed on the JSE are, however, exempt from income tax.
Consequently, no South African income tax should be incurred by the shareholders in respect of the Dividend received.
The Dividend may, however, be subject to South African dividends tax at 20%. There is though, amongst others, an
exemption from South African dividends tax if the dividend is paid to a South African resident corporate shareholder. This
exemption operates in a manner similar to other local shares listed on the JSE and the dividends paid in respect thereof to
resident corporate shareholders and retirement funds. Intermediaries may only allow an exemption from South African
dividends tax, provided shareholders have completed and lodged a valid exemption form, which is obtainable from their
intermediary.
Belgian withholding tax
The gross amount of the Dividend will as a rule be subject to a Belgian withholding tax of 30%. Such withholding tax can
under certain circumstances be reduced.
Belgian dividend withholding tax can be reduced to 15% pursuant to the Belgian-South African double tax treaty in force.
Such reduced rate can be applied provided that Form N°/NR. 276 Div.-Aut. is filed by the shareholder with the Bureau
Central de Taxation de Bruxelles-Etranger, boulevard du Jardin Botanique 50 boîte 3429, 1000 Brussels, Belgium
(hereinafter the “Central Bureau of Taxation”) before the expiry of a period of five years from January 1st of the year in
which the withholding tax was paid, in which case the differential between the standard withholding tax rate of 30% and
the reduced treaty rate of 15% will be reimbursed. An explanatory note is available through this link, or through the
Belgian Tax authorities’ official website: https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2575. The
current version of Form N°/NR. 276 Div.-Aut. is available through this link, or through the Belgian Tax authorities’ official
website: https://eservices.minfin.fgov.be/myminfin-finform/AppelPdfExt?id=2599.
A reduced Belgian withholding tax of 1.6995 % is also applicable to dividends paid to South African corporate
shareholders that hold a participation of less than 10% in the capital of Anheuser-Busch InBev NV/SA but with an
acquisition value of at least €2.5 million. This regime is subject to the cumulative conditions that (i) the company has a
legal form considered similar to the ones listed in Annex I, Part A, to the Council Directive 2011/96/EU of 30 November
2011 on the common system of taxation applicable in the case of parent companies and subsidiaries of different Member
States, as amended by Directive 2014/863/EU of 8 July 2014; (ii) it is subject to corporate income tax or a similar tax
without benefiting from a tax regime that deviates from the ordinary domestic tax regime; (iii) the dividends relate to
Anheuser-Bush InBev NV/SA shares which it has held or will hold in full legal ownership for an uninterrupted period of at
least one year; and (iv) it cannot in principle credit the Belgian withholding tax paid on the Anheuser-Bush InBev NV/SA
dividends or obtain a refund thereof according to the legal provisions in force on December 31 of the year preceding the
year of the payment or attribution of the dividends.
In order to benefit from this reduced withholding tax, the shareholder must provide the Central Bureau of Taxation with a
South African residency certificate confirming that it fulfils the above mentioned conditions and indicating to what extent
the Belgian withholding tax is in principle creditable or reimbursable on the basis of the South African laws applicable on
31 December of the year preceding the one during which the Dividend is paid or attributed.
South African dividends tax rebate in respect of Belgian withholding tax
A rebate must, for South African dividends tax purposes, be deducted from any South African dividends tax payable in
respect of the Dividend (i.e. where no exemption is available). This rebate will be equal to the amount of any Belgian
withholding tax paid in respect of the Dividend, without any right of recovery, and must not exceed the amount of the
South African dividends tax imposed in respect of the Dividend.
The CSDPs and/or brokers, in their capacity as the regulated intermediaries, must obtain proof of any Belgian withholding
tax paid and deducted from the South African tax payable, as above, in the form and manner prescribed by the South
African Revenue Service.
For the avoidance of doubt, the income tax and dividends tax information provided above is only relevant to shareholders
whose shares are held through CSDPs and brokers and are traded on the JSE.
Please direct any queries to the Company’s Transfer Secretaries in South Africa:
Computershare Investor Services (Pty) Limited
15 Biermann Avenue, Rosebank, 2196
South Africa
(PO Box 61051, Marshalltown, 2107, South Africa
Telephone +27 11 370 5000
Facsimile +27 11 688 5200
Email enquiries: web.queries@computershare.co.za
2 March 2017
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 02/03/2017 09:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
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