At least one American is psyched that Budweiser will soon be a Belgian beer. Fresh off the Hollywood beat, The New York Times‘ David Halbfinger does some back-of-the-envelope calculations on how much Cindy McCain’s stock in Anheuser-Busch is worth after last week’s InBev deal.
New York Times: The business that Mrs. McCain’s father started a half-century ago, Hensley & Company, is the exclusive wholesaler of Budweiser, Bud Light and other Anheuser-Busch products in the Phoenix area, and the third-largest Anheuser-Busch distributor in the nation, with more than $300 million in yearly sales. Mrs. McCain owns 34 per cent of the company, though with her children and other relatives she controls two-thirds of the shares and all the voting stock, Arizona public records show.
Hensley & Company, in turn, owns a minimum of $1 million in Anheuser-Busch common stock, according to Mr. McCain’s most recent Senate financial disclosures. No maximum is given, but last year’s dividend income on that stock was between $50,001 and $100,000, the disclosures show. And since Anheuser-Busch paid out dividends of $1.25 a share in 2007, it appears that Hensley owned between 40,000 and 80,000 shares.
That, in turn, suggests that the $70-per-share price that InBev is paying will give Hensley a gain of $1 million to $2 million since February, when speculation about the deal surfaced, and two-thirds of that would pencil out as the McCain family’s windfall.
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