Brown-Forman Stockholders Elect Directors
2017年7月28日 - 4:03AM
ビジネスワイヤ(英語)
Approve Executive Compensation; Cash Dividend
Declared
Brown-Forman Corporation’s (NYSE:BFA) (NYSE:BFB) shareholders
met today at the regularly scheduled annual meeting of stockholders
and elected the slate of directors recommended by the Board of
Directors as submitted in the company’s 2017 Proxy Statement. They
also approved the company’s executive compensation plan on a
nonbinding advisory basis, and approved the Board’s recommendation
to have future advisory votes on executive compensation every three
years.
Geo. Garvin Brown IV, chairman of the Board of Directors,
thanked the company’s shareholders for re-affirming their
commitment to the company’s long-term strategy. Mr. Brown also
congratulated Brown-Forman Chief Executive Officer Paul Varga for
his continued stewardship of the company’s values, and leadership
of its success, noting that the company’s ten year track record is
a direct reflection of Mr. Varga’s ten years as corporate CEO.
In remarks at the annual meeting, Paul Varga told stockholders
that the company experienced another year of solid results in
fiscal 2017, with underlying operating income up 7% over the
previous year, led by Jack Daniel’s and the company’s premium
American whiskey portfolio. He also underscored the consistency of
Brown-Forman’s performance over the last decade, the current
American whiskey category momentum, the large remaining global
expansion opportunity, and the importance of investment and
innovation in seizing it.
“We continue to believe in the global growth potential for our
premium portfolio of brands, most notably for Jack Daniel’s and our
American Whiskeys. Accordingly, we intend to innovate and invest
against that opportunity with the aim of producing excellent
long-term returns for shareholders,” Varga said.
In a subsequent meeting, the Board of Directors approved a
regular quarterly cash dividend of 18.25 cents per share on the
Class A and Class B common stock. Stockholders of record on
September 7, 2017, will receive the cash dividend on October 2,
2017. With this dividend, Brown-Forman will have paid regular
quarterly cash dividends for 72 consecutive years and will have
increased the regular cash dividend for 33 consecutive years.
For nearly 150 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, Jack Daniel’s
Tennessee Fire, Gentleman Jack, Jack Daniel’s Single Barrel,
Finlandia, Korbel, el Jimador, Woodford Reserve, Old Forester,
Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times,
Chambord, BenRiach, GlenDronach and Slane. Brown-Forman’s brands
are supported by over 4,700 employees and sold in more than 165
countries worldwide. For more information about the company,
please visit http://www.brown-forman.com/.
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version on businesswire.com: http://www.businesswire.com/news/home/20170727006377/en/
Brown-Forman CorporationPhil Lynch, 502-774-7928Vice
PresidentDirector Corporate Communications and Public
RelationsorJay Koval, 502-774-6903Vice PresidentDirector Investor
Relations
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