US: Brown-Forman readies special cash dividend
Brown-Forman shareholders can expect two dividend payments before the end of 2010
Brown-Forman has announced the payment of a special dividend for its shareholders.
The US-based wine and spirits company, which will make its regular quarterly dividend payment next week, said earlier today (1 December) that it will pay US$1 per share on its class A and B common stock.
The payment will be made on 28 December to stockholders of record on 10 December.
"This special dividend underscores the strength of our company's balance sheet and cash flows, and it reinforces our belief that returning cash to shareholders plays an important role in producing superior long-term total shareholder returns," said company CEO Paul Varga.
PepsiCo has held on to the top spot in a chart of commercial sponsorship spenders in the US in 2010....
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