LOUISVILLE, Ky.--(BUSINESS WIRE)--
Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) announced today that
its Board of Directors increased its regular quarterly cash dividend on
its Class A and Class B Common Stock by 6.7% to $0.32 per share from the
prior quarter’s $0.30 per share. As a result, the indicated annual cash
dividend will rise from $1.20 to $1.28 per share.
Stockholders of record on December 7, 2010 will receive their quarterly
cash dividend on December 27, 2010. Historically the payment from the
November declaration has been made in early January of the following
calendar year. However, with the uncertainty surrounding the renewal of
the current dividend tax rates which expire on December 31, 2010, the
company chose to accelerate the cash payment, which will result in five
cash payments for calendar 2010.
This marks Brown-Forman’s 65th consecutive year of quarterly
dividends and the 27th consecutive year it has increased the
annualized dividend. In early 2010, Brown-Forman became part of the
prestigious Standard & Poor’s 500 Dividend Aristocrats Index, which is
comprised of an elite list of only 42 companies that have consistently
increased their cash dividend every year for over 25 years.
Paul Varga, Chief Executive Officer, commented, “We are pleased to once
again increase our dividend, reflecting the company’s strong balance
sheet and cash flows and our ambition of producing excellent long-term
total shareholder returns.”
For 140 years, Brown-Forman Corporation has enriched the experience of
life by responsibly building fine quality beverage alcohol brands,
including Jack Daniel's Tennessee Whiskey, Southern Comfort, Finlandia,
Jack Daniel's & Cola, Canadian Mist, Fetzer, Korbel, Gentleman Jack, el
Jimador, Tequila Herradura, Sonoma-Cutrer, Chambord, New Mix, Tuaca,
Woodford Reserve, and Bonterra. Brown-Forman's brands are supported by
nearly 4,000 employees and sold in approximately 135 countries
worldwide. For more information about the company, please visit http://www.brown-forman.com.
Source: Brown-Forman Corporation
Contact:
Brown-Forman Corporation
Phil Lynch, 502-774-7928
Vice
President
Director Corporate Communications
and Public
Relations
or
Ben Marmor, 502-774-6691
Assistant Vice
President
Director Investor Relations