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Declaration of Interim Dividend No. 25
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 Interim Dividend No. 25
Shareholders are referred to the Third Quarter and Nine Months 2018 Results announcement issued separately
today.
The board of directors of AB InBev has approved an interim dividend of €0.80 per ordinary share (the “Dividend”)
for the fiscal year 2018.
Proposed Timetable
2018
Dividend declaration announcement released on the Stock Exchange News Thursday, 25 October
Services of the JSE
Currency conversion announcement released (by 11h00 SA time) Tuesday, 27 November
Last day to trade on the Johannesburg Stock Exchange (JSE) to qualify for the Tuesday, 27 November
Dividend
Ex-Dividend on Euronext from the commencement of trading on Tuesday, 27 November
Ex-Dividend on the JSE from commencement of trading on Wednesday, 28 November
Record date on Euronext Wednesday, 28 November
Dividend payable (Euronext) Thursday, 29 November
Record date on the JSE Friday, 30 November
Dividend payable (SA) Monday, 3 December
Additional information required by the JSE Listings Requirements
1. No transfers of shareholdings to and from South Africa will be permitted between Tuesday, 27 November
2018 and Friday, 30 November 2018 (both dates inclusive). No dematerialisation or rematerialisation orders
will be permitted between Wednesday, 28 November 2018 and Friday, 30 November 2018 (both dates
inclusive).
2. 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%.
3. At Thursday, 25 October 2018, being the declaration announcement date of the Dividend, the Company had
a total of 1,957,318,895 shares in issue (excluding treasury shares). The Company held 61,923,078 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).
4. The Dividend will be paid out of the Company’s result for 2018, 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 Belgian withholding tax exemption 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 is treated
as a body corporate for tax purposes in the meaning of Article 3, 1), d) of the Double Tax Treaty between Belgium
and South Africa and 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-Busch 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-Busch 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.
Any shareholder who is in any doubt as to their tax position should seek independent professional advice.
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with secondary
listings on the Mexico (MEXBOL: ANB) and South Africa (JSE: ANH) stock exchanges and with American
Depositary Receipts on the New York Stock Exchange (NYSE: BUD
25 October 2018
JSE Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 25/10/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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