US: Brown-Forman declares dividend

By just-drinks.com editorial team | 17 November 2009

Brown-Forman, owner of Jack Daniel whiskey, has declared a quarterly cash dividend of $0.30 per share on its Class A and Class B common stock.

The payment represents a 4.3% increase over the prior quarter's dividend, the firm said late yesterday (16 November). As a result, the indicated annual cash dividend will rise from $1.15 to $1.20 per share.

Listed shareholders as of 7 December will receive the quarterly cash dividend on 4 January 2010.

Paul Varga, Brown-Forman CEO, said: "We are pleased to raise our dividend in this challenging economic environment, particularly in a year where many companies have been forced to reduce or suspend theirs."

In September, Brown-Forman reported a strong rise in profits for its first fiscal quarter, despite a slip in sales.

Sectors: Spirits, Wine

Companies: Brown-Forman