Brown-Forman Corp. increased its quarterly cash dividend on its Class A and Class B Common Stock by 5.0% to 17.43 cents a share from the prior quarter’s 16.6 cents a share. As a result, the indicated annual cash dividend will rise from.69.72 cents a share. Stockholders of record on Dec.5, 2019, will receive the cash dividend on Jan. 2, 2020.
This marks the 36th consecutive year of dividend increases at Brown-Forman, and the 74th year of paying quarterly dividends at the company.
Lawson Whiting, President and Chief Executive Officer of Brown-Forman said, “Our increased dividend reflects the strength of our cash flows, the health of our balance sheet, and our confidence in the long-term growth prospects for the company.”
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.