Brown-Forman raises dividend for 32nd consecutive year
The quarterly dividend will be increased to $0.34 per share, marking 32 consecutive years of higher dividends for Dividend Aristocrat Brown-Forman.
Paul Varga, Chief Executive Officer of Brown-Forman said, “Brown-Forman has an excellent track record of returning cash to shareholders through ongoing share repurchase programs and dividends. Today, our board approved a 7.9% increase in our annual dividend, the 32nd consecutive year of increases at the company. This increase is indicative of our strong and growing cash flows, as well as our optimism about our future growth opportunities as we invest behind our American whiskey brands to meet tomorrow’s anticipated demand.”
This marks Brown-Forman’s 70th 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 52 companies that have increased their cash dividend every year for over 25 years.