Beer dividend saves brewery
Local residents buy up shares of German brewery, get 5-case bonus
Mar 4, 2003 - A small brewery in Germany has been saved from bankruptcy by offering new shareholders cases of beer as dividends. Otherwise it would have had to close April 1.
In need of $800,000 in capital, the Haerle brewery in Koenigseggwald offered a dividend of five cases of beer for every new share bought in an issue offering at $500 face value.
On beer that retails at $11.50 per case, that worked out to an annual dividend of 11.5%.
The brewery, founded in 1820 and owned by the same family since 1896, quickly sold all 1,600 shares, primarily to local residents.
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