Brown-Forman posted a drop in Q1 profits

Brown-Forman posted a drop in Q1 profits

Brown-Forman has lined up its next dividend payment.

The US-based spirits and wine group said yesterday (21 November) that it will pay US$1.16 per share to holders of its Class A and B common stock. The quarterly dividend will be made on 27 December to shareholders of record on 4 December.

The company highlighted that the payment was a 13.7% increase on the dividend for the previous quarter.

In first-quarter results, released in August, Brown-Forman posted a drop in profits despite continued growing demand for its core whiskey brand.

Expert analysis

Brown-Forman Corp in Spirits (World)

Brown-Forman Corp in Spirits (World)

Through much of the review period, Brown-Forman has struggled for growth. However, in 2012 its rate of growth picked up as the early results of its 10-year plan, announced in 2010, started to show as ...read more