Brown-Forman Shareholders Elect Directors
2018年7月27日 - 2:11AM
ビジネスワイヤ(英語)
Cash Dividend Approved
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 2018 Proxy Statement.
Geo. Garvin Brown IV, chairman of the Board of Directors,
thanked the company’s shareholders for their thoughtful, long-term
commitment to the company’s strategy. Brown also congratulated
Brown-Forman’s Chief Executive Officer Paul Varga on his successful
31-year career at the company. In May, Varga announced his decision
to retire at the end of calendar 2018, and the Board of Directors
approved Lawson Whiting as the company’s next CEO, effective
January 1, 2019.
In remarks at the annual meeting, Varga told stockholders that
the company experienced another year of strong performance,
including net sales growth roughly double fiscal 2017’s rate of
growth. Strong operating income growth, combined with
industry-leading operating margins and returns on capital, helped
fuel a total shareholder return of 53% in fiscal 2018.
“This year highlighted our excellent balance by geography and
portfolio. Results were led by our iconic Jack Daniel's trademark
and premium American whiskey portfolio, including Woodford Reserve
and Old Forester. The company also delivered broad-based geographic
growth led by the United States and emerging markets with a return
to historical growth rate for our developed international markets.
Thanks to our aggressive investment posture over the last several
years, we believe that the company is very well-positioned for
future growth,” said Varga.
In a subsequent meeting, the Board of Directors approved a
regular quarterly cash dividend of 15.8 cents per share on its
Class A and Class B Common Stock. Stockholders of record on
September 6, 2018, will receive the cash dividend on October 1,
2018. With this dividend, Brown-Forman will have paid regular
quarterly cash dividends for 73 consecutive years and will have
increased the regular cash dividend for 34 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 4,800 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/.
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version on businesswire.com: https://www.businesswire.com/news/home/20180726005776/en/
Brown-Forman CorporationPhil Lynch, 502-774-7928Vice
PresidentDirector Corporate Communications andPublic RelationsorJay
Koval, 502-774-6903Vice PresidentDirector Investor Relations
andCommunity Relations
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