New York (CNN Business) Americans and Brazilians have soured on drinking mass produced beers like Budweiser and Bud Light.

Shares of Anheuser-Busch InBev plunged 10% Thursday after the Budweiser and Stella Artois brewer said it was cutting its dividend in half and reported weak demand in those countries.

Anheuser-Busch InBev ( BUD ) said that it needed to slash the dividend to reduce its massive debt load. The company took on a lot of debt to acquire rival SABMiller for $100 billion two years ago.

The dividend cut should allow Anheuser-Busch InBev to save about $4 billion in cash a year, which it could use to pare back its debt, said Pablo Zuanic, an analyst with Susquehanna International Group, in a report Thursday.

A bloated balance sheet isn't the only problem for Anheuser-Busch InBev.