A rebounding European beer market is buoying Anheuser-Busch InBev and Carlsberg, lifting demand for mainstream brands such as Stella Artois and Tuborg.

Carlsberg, the world’s fourth-biggest brewer, has pledged to pay more of earnings in the form of dividends as its new chief unveiled his strategy for the next six years.

Carlsberg has cut its annual profit forecast after quarterly earnings missed estimates amid plunging volume in Russia and slower-than- expected cost savings in western Europe.