Brown-Forman Board Approves Share Repurchase Authorization of $200 Million
2018年7月14日 - 5:05AM
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 $200 million share repurchase
authorization, commencing July 13, 2018 through July 12, 2019,
subject to market and other conditions. Under the repurchase
program, the company can repurchase Class A and Class B common
stock 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, "We
are appropriately attentive to today's uncertain market
environment, but remain optimistic about the long-term growth
prospects for our brands around the world. We strive to deliver
leading returns for our shareholders and believe this buyback
authorization provides us with the flexibility to repurchase our
shares when the market presents the opportunity."
For almost 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 4,800 employees and sold in more than 170
countries worldwide. For more information about the company and its
corporate responsibility efforts, 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, including potential retaliatory tariffs on American
spirits; 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 or capital gains) or changes in related reserves, changes
in tax rules or accounting standards, and the unpredictability and
suddenness with which they can occur
- The impact of the recently enacted U.S.
tax reform legislation, including as a result of future regulations
and guidance interpreting the statute
- 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;
legalization of marijuana use on a more widespread basis; shifts in
consumer purchase practices from traditional to e-commerce
retailers; bar, restaurant, travel, or other on-premise declines;
shifts in demographic or health and wellness trends; or 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 fixed costs
- Inventory fluctuations in our products
by distributors, wholesalers, or retailers
- Competitors’ and retailers’
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, 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 quality issues
- Significant legal disputes and
proceedings; or government investigations
- 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, and our dual class
share structure
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 Securities and
Exchange Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180713005457/en/
Brown-Forman CorporationPhil Lynch, 502-774-7928Vice
PresidentDirector Corporate Communications and Public
RelationsorJay Koval, 502-774-6903Vice PresidentDirector Investor
Relations and Community 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