Brown-Forman (BF-A) Raises Quarterly Dividend 5.1% to $0.166, 1.4% Yield; Appoints Incoming CEO Lawson Whiting to Board

Brown-Forman (NYSE: BF-A) declared a quarterly dividend of $0.166 per share, or $0.664 annualized. This is a 5.1% increase from the prior dividend of $0.158.

The dividend will be payable on January 2, 2019, to stockholders of record on December 6, 2018, with an ex-dividend date of December 5, 2018.

The annual yield on the dividend is 1.4 percent.

Paul Varga, Chief Executive Officer of Brown-Forman said, "Our 5.1% dividend increase marks the 35th consecutive year of dividend increases at Brown-Forman, and the 73rd year of paying quarterly dividends at the company. Returning cash to our shareholders has been an important contributor to our ability to generate great returns for our shareholders."

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.

For a dividend history and other dividend-related data on Brown-Forman (BF-A) click here.

NEW BOARD MEMBER

The company also announced that Lawson Whiting, the company’s incoming CEO (as of January 1, 2019) has been elected to the company’s Board of Directors, effective immediately. As part of the CEO transition process, Paul Varga will remain on the board until the next annual meeting of shareholders on July 25, 2019, and that will mark the conclusion of the board's multi-year succession plan and his almost 16 years of service on the board.

“Lawson brings a wealth of business experience to the Brown-Forman board, including more than two decades in various roles at the company,” said Brown-Forman Board Chairman Geo. Garvin Brown IV. “We’re excited to welcome him to the board and are grateful to Paul for the important role he has played in this thoughtful succession process.”

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