Molson to pay dividend

Molson to pay dividend

Molson Coors Brewing Co has proposed a near-17% rise in the quarterly dividend on its Class A and Class B common shares.

The Canada-based brewer's board proposed yesterday (3 May) to raise the dividend by $0.04 to US$0.28 per share. This is equivalent to an annual dividend of US$1.12 per share, up from US$0.96 in the previous year, the brewer said.

The quarterly dividend is payable from  15 June to shareholders of record as of 28 May.

Molson Coors Canada also declared a 17% rise for its quarterly dividend on Class A and Class B exchangeable shares, to approximately CDN$0.28. The dividend is the Canadian equivalent of the dividend declared on the Molson Coors Brewing Co stock.

“Given our strong free cash flow, we are pleased to be in a position to increase our cash returns to shareholders while continuing to invest in the business,” said Peter Swinburn, president and CEO of Molson Coors.

Molson Coors reported its first quarter results today (4 May).