US: Brown-Forman details stock distribution completion

By | 31 October 2008

Brown-Forman has completed a stock distribution.

The US-based wine and spirits company said yesterday (30 October) that it completed the distribution of one share of Class B common stock for every four shares of either Class A or Class B common stock held earlier this week.

The number of outstanding Class A shares now totals just over 56.6m, with 94.2m Class B shares outstanding.

Brown-Forman's shares began trading at the price-adjusted basis from Tuesday of this week. As of the close of the New York Stock Exchange yesterday, the company said, Brown-Forman's market capitalisation was around US$6.9bn on an aggregate of just under 151m shares.

As a result of the distribution, the company said it will henceforth detail future cash dividends and per-share amounts in its results to reflect the move.

Sectors: Spirits, Wine

Companies: Brown-Forman

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