Brown-Forman has  increased the quarterly cash dividend on its Class A and Class B Common Stock by 8% from 28 US cents to 30.25 cents per share.

As a result, the indicated annual cash dividend is to rise from US$1.12 per share to $1.21 per share, the Jack Daniel's and Southern Comfort producer said yesterday (16 November). Stockholders of record on 4 December will receive the cash dividend on 1 January.

"We are pleased that our board has approved an 8% increase in our dividend, particularly during a time when we are making significant investments in the expansion of our portfolio," chief executive Paula Varga said.

 Brown-Forman has paid regular quarterly cash dividends for some 61 years in succession.