US: Brown-Forman lines up next quarterly dividend
Brown-Forman shareholders will received five dividend payments in 2010
Brown-Forman has confirmed details of its latest dividend payment.
The US-based wine and spirits firm said earlier today (18 November) that the regular quarterly cash dividend on its class A and class B common stock will rise to US$0.32 compared to $0.30 for the prior quarter. Payment will be made on 27 December to shareholders of record on 7 December, the firm said.
“Historically, the payment from the November declaration has been made in early January of the following calendar year,” Brown-Forman said. “However, with the uncertainty surrounding the renewal of the current dividend tax rates which expire on 31 December, the company chose to accelerate the cash payment, which will result in five cash payments for calendar 2010.
Back in September, Brown-Forman blamed unfavourable currency rates and distribution costs for a 10% drop in operating profits for the three months to the end of July.
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