Brown-Forman declares 2022 dividend increase (+9.0%)
Brown-Forman Corporation (ticker symbol BFA, BFB) will hike its dividend from $0.1885 per share to $0.2055 per share on its Class A and Class B Common Stock. This means that the annual dividend rate will rise from $0.7540 per share to $0.8220 per share. The dividend yield for Brown-Forman is 1.1% at a stock price of $72.60.
The dividend is payable on January 3, 2023, to stockholders of record on December 2, 2022. Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 79 years and has increased the cash dividend for 39 consecutive years. This new dividend hike just announced is the biggest by Brown-Forman since 2013, when a 13.7% dividend hike was announced.
BROWN-FORMAN DIVIDEND HISTORY
- 2022: 9.0% dividend hike
- 2021: 5.0% dividend hike & $1.00 special dividend
- 2020: 3.0% dividend hike
- 2019: 5.0% dividend hike
- 2018: 5.1% dividend hike
- 2017: 8.2% dividend hike
The new annual dividend rate translates into a dividend yield of 1.13% for Brown-Forman shares at a price of $72.57. Last year, in December 2021, Brown-Forman also declared a special cash dividend of $1.00 per share together with a 5% dividend hike. This dividend was paid on December 29, 2021.
Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. Its brands include Jack Daniel's, Finlandia Vodkas, el Jimador and Herradura Tequilas, Canadian Mist Canadian Whisky and Sonoma-Cutrer California Wines. Brown-Forman is a member of the prestigious Standard & Poor’s 500 Dividend Aristocrats Index, which is composed of companies that have increased their cash dividend every year for at least 25 years.