“Therefore, we continue to plan to maintain our ABI investment.”

In context

“sly expected. As a result, we have written [Indiscernible] investment in ABI down to at September 30th market value of $11.2 billion. Regarding our decisions around the [indiscernible] we view our ABI stake as a financial investment and our goal is to maximize the long-term value of the investment for our shareholders. We consider several factors as we analyze the investment, including the strategic rationale of continuing as a long-term investor in the beer category. ABI share price, which has declined by more than 30% since October 2019 due in large part to impacts of the COVID pandemic, our expectations of ABI's business, alternative uses of capital, and tax considerations. We have determined that selling our ABI investment at this time would not maximize long-term shareholder value. Therefore, we continue to plan to maintain our ABI investment. We continue to have confidence in ABI's long-term strategies, premium global brands, experienced management team, and capability to successfully navigate near-term challenges. We will continue to monitor and evaluate market conditions and the analytical factors mentioned previously on a regular basis, consistent with our goal of maximizing the long-term value of this investment for our shareholders. We remain committed to creating long-term shareholder value through the pursuit of our vision and our significant capital returns, which we demonstrated in the third quarter, by paying approximately $1.6 billion in dividends and raising the dividend for the 56 times in 52 years. Selling St. Michelle Wine Estates and expanding our share repurchase program from $2 billion to $3.5 billion and re”