Constellation Brands (STZ) Raises Quarterly Dividend 29% to $0.40; 1.1% Yield

Constellation Brands Reports Fiscal 2016 Results and Fiscal 2017 Outlook

Achieves fiscal 2016 comparable basis EPS of $5.43 and reported basis EPS of $5.18 Generates $522 million of free cash flow and $1.4 billion of operating cash flow for fiscal 2016 Provides fiscal 2017 outlook; expects comparable basis EPS of $6.05 - $6.35 and reported basis EPS of $6.00 - $6.30 Projects free cash flow of $250 - $350 million for fiscal 2017 including operating cash flow target of at least $1.5 billion and total capital expenditure estimate of $1.25 - $1.35 billion Agrees to purchase The Prisoner Wine Company portfolio of super-luxury brands; transaction expected to be accretive for fiscal 2017 Nava brewery and glass plant expansions progressing as planned Declares quarterly dividend of $0.40 per share Class A and $0.36 per share Class B common stock, a 29% increase Repurchases approximately 246,000 shares of common stock for $34 million during fourth quarter 2016 Evaluates merits of an IPO for a portion of the Canadian Business Fiscal 2016 Financial Highlights*               (in millions, except per share data)                 Comparable   % Change   Reported   % Change Net sales $6,548   9%   $6,548   9%                 Operating income $1,866... More