US: Brown-Forman to repurchase shares
Distiller in share buy-back
Jack Daniel whiskey distiller Brown-Forman is to repurchase US$250m of shares.
Up to $250m of outstanding class A and class B common shares are to be repurchased by 1 December, the firm said yesterday (8 June).
"Recognising the company’s future growth opportunities, we think now is a great time for us to use our strong financial position to invest in Brown-Forman,” said Paul Varga, CEO of the group, which also owns Southern Comfort whiskey and Finlandia vodka.
Brown-Forman will report its full-year results today at 10:00 ET.
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