Fortune Brands has increased its annual dividend payment.

The parent company of Beam Global Spirits & Wine confirmed yesterday (31 July) that it has approved an 8% increase to the payment at US$0.12 per share to an annual rate of $1.68 from $1.56 per share.

Shareholders will receive $0.42 per share of common stock. Payment will be made on 4 September to shareholders of record as of 15 August.

Fortune Brands chairman and chief executive Norm Wesley said: "We're pleased that we've increased the dividend in each of the 11 years since we began trading as Fortune Brands, more than doubling our payout over that period."

At the same time, Fortune said a dividend of $0.6675 will be issued on the $2.67 convertible preferred stock. This payment will be made on 10 September to shareholders of record as of 15 August.