The US wine, beer and spirits giant Constellation Brands, said yesterday that its board of directors had declared a quarterly dividend of $0.483160 per depositary share.

Payment will be on the company's 5.75% Series A Mandatory Convertible Preferred Stock, payable on December 1, 2003, to shareholders of record on November 17, 2003.

The comany said while the quarterly dividend rate is $0.359375 per depositary share, the initial dividend covers the period July 30, 2003 through August 31, 2003, in addition to the quarter ended November 30, 2003.