Brown-Forman increases dividend for 31st consecutive year

Brown-Forman will raise the quarterly dividend by 8,6%.

The quarterly dividend is hiked from $0,29 to $0,315 per share. At a current stock price of $95 the indicated dividend yield for Brown-Forman is 1,3%.

Paul Varga, chief executive officer of Brown-Forman, said, "This dividend increase marks the 31st consecutive year of increases at the company, and reflects our commitment to delivering top-tier returns for our shareholders. In addition to returning cash to shareholders through our dividend program, the company also implemented a new buyback program in October, and is aggressively investing behind the long-term global growth of our American whiskey brands."

This marks Brown-Forman's 69th consecutive year of paying quarterly dividends. Brown-Forman is a member of the prestigious Standard & Poor's 500 Dividend Aristocrats Index which is comprised of an elite list of only 54 companies that have increased their cash dividend every year for over 25 years.

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