Brown-Forman Board Approves New Share Repurchase Authorization of $1 Billion and Declares Cash Dividend
2016年1月29日 - 6:01AM
ビジネスワイヤ(英語)
Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) announced that
its Board of Directors has approved a new $1 billion share
repurchase authorization, commencing April 1, 2016 through March
31, 2017, subject to market and other conditions. The current
buyback expires on March 24, 2016. Under the new repurchase
program, the company can repurchase Class A and Class B common
shares from time to time for cash in open market purchases, block
transactions, and privately negotiated transactions in accordance
with applicable federal securities laws. This share repurchase
program may be modified, suspended, or terminated by the company at
any time without prior notice.
Paul Varga, chief executive officer of Brown-Forman said, “Our
company is very well-positioned to capitalize on continued global
demand for premium American whiskey brands, led by our Jack
Daniel’s trademark. We have been investing significantly in our
future growth and refining our portfolio of brands, including the
recently announced sale of Southern Comfort, which is expected to
close on March 1, 2016. Our excellent balance sheet, coupled with
the anticipated proceeds from the sale of Southern Comfort and
Tuaca and our strong and growing cash flow, allow us to continue to
return capital to shareholders.”
Brown-Forman’s Board of Directors also declared a regular
quarterly cash dividend of 34 cents per share on its Class A and
Class B Common Stock. Stockholders of record on March 9, 2016 will
receive the cash dividend on April 1, 2016.
Brown-Forman has paid regular quarterly cash dividends for 70
consecutive years and has increased the dividend for 32 consecutive
years. Brown-Forman is a member of the prestigious Standard &
Poor’s 500 Dividend Aristocrats Index which is comprised of an
elite list of companies selected by Standard & Poor’s that have
consistently increased their cash dividend every year for over 25
years.
For more than 145 years, Brown-Forman Corporation has
enriched the experience of life by responsibly building fine
quality beverage alcohol brands, including Jack Daniel’s Tennessee
Whiskey, Jack Daniel’s & Cola, Jack Daniel’s Tennessee Honey,
Gentleman Jack, Jack Daniel’s Single Barrel, Finlandia, Southern
Comfort, Korbel, el Jimador, Woodford Reserve,
Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times,
and Chambord. Brown-Forman’s brands are supported by nearly
4,400 employees and sold in approximately 160 countries worldwide.
For more information about the company, please
visit http://www.brown-forman.com.
Important Information on Forward-Looking Statements:
This press release contains statements, estimates, and
projections that are “forward-looking statements” as defined under
U.S. federal securities laws. Words such as “aim,” “anticipate,”
“aspire,” “believe,” “continue,” “could,” “envision,” “estimate,”
“expect,” “expectation,” “intend,” “may,” “plan,” “potential,”
“project,” “pursue,” “see,” “seek,” “should,” “will,” and similar
words identify forward-looking statements, which speak only as of
the date we make them. Except as required by law, we do not intend
to update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise. By their
nature, forward-looking statements involve risks, uncertainties and
other factors (many beyond our control) that could cause our actual
results to differ materially from our historical experience or from
our current expectations or projections. These risks and
uncertainties include, but are not limited to:
- Unfavorable global or regional economic
conditions, and related low consumer confidence, high unemployment,
weak credit or capital markets, budget deficits, burdensome
government debt, austerity measures, higher interest rates, higher
taxes, political instability, higher inflation, deflation, lower
returns on pension assets, or lower discount rates for pension
obligations
- Risks associated with being a
U.S.-based company with global operations, including commercial,
political and financial risks; local labor policies and conditions;
protectionist trade policies or economic or trade sanctions;
compliance with local trade practices and other regulations,
including anti-corruption laws; terrorism; and health
pandemics
- Fluctuations in foreign currency
exchange rates, particularly a stronger U.S. dollar
- Changes in laws, regulations, or
policies - especially those that affect the production,
importation, marketing, labeling, pricing, distribution, sale, or
consumption of our beverage alcohol products
- Tax rate changes (including excise,
sales, VAT, tariffs, duties, corporate, individual income,
dividends, capital gains) or changes in related reserves, changes
in tax rules (for example, LIFO, foreign income deferral, U.S.
manufacturing and other deductions) or accounting standards, and
the unpredictability and suddenness with which they can occur
- Dependence upon the continued growth of
the Jack Daniel’s family of brands
- Changes in consumer preferences,
consumption or purchase patterns - particularly away from larger
producers in favor of smaller distilleries or local producers, or
away from brown spirits, our premium products, or spirits
generally, and our ability to anticipate or react to them; bar,
restaurant, travel or other on-premise declines; shifts in
demographic trends; unfavorable consumer reaction to new products,
line extensions, package changes, product reformulations, or other
product innovation
- Decline in the social acceptability of
beverage alcohol products in significant markets
- Production facility, aging warehouse or
supply chain disruption
- Imprecision in supply/demand
forecasting
- Higher costs, lower quality or
unavailability of energy, water, raw materials, product
ingredients, labor or finished goods
- Route-to-consumer changes that affect
the timing of our sales, temporarily disrupt the marketing or sale
of our products, or result in higher implementation-related or
fixed costs
- Inventory fluctuations in our products
by distributors, wholesalers, or retailers
- Competitors’ consolidation or other
competitive activities, such as pricing actions (including price
reductions, promotions, discounting, couponing or free goods),
marketing, category expansion, product introductions, or entry or
expansion in our geographic markets or distribution networks
- Risks associated with acquisitions,
dispositions, business partnerships or investments - such as
acquisition integration, or termination difficulties or costs, or
impairment in recorded value
- Inadequate protection of our
intellectual property rights
- Product recalls or other product
liability claims; product counterfeiting, tampering, contamination,
or product quality issues
- Significant legal disputes and
proceedings; government investigations (particularly of industry or
company business, trade or marketing practices)
- Failure or breach of key information
technology systems
- Negative publicity related to our
company, brands, marketing, personnel, operations, business
performance or prospects
- Failure to attract or retain key
executive or employee talent
- Our status as a family “controlled
company” under New York Stock Exchange rules
For further information on these and other risks, please refer
to the “Risk Factors” section of our annual report on Form 10-K and
quarterly reports on Form 10-Q filed with the SEC.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160128006467/en/
Brown-Forman CorporationPhil Lynch, 502-774-7928Vice
PresidentDirector Corporate Communications and Public
RelationsorJay Koval, 502-774-6903Vice PresidentDirector Investor
Relations
Brown Forman (NYSE:BFB)
過去 株価チャート
から 6 2024 まで 7 2024
Brown Forman (NYSE:BFB)
過去 株価チャート
から 7 2023 まで 7 2024