Brown-Forman Increases Cash Dividend 5.1%; Lawson Whiting Elected to Board of Directors
2018年11月16日 - 6:50AM
ビジネスワイヤ(英語)
Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) announced today
that its Board of Directors increased its quarterly cash dividend
on its Class A and Class B Common Stock by 5.1% to $0.166 per share
from the prior quarter’s $0.158 per share. As a result, the
indicated annual cash dividend will rise from $0.632 per share to
$0.664 per share. Stockholders of record on December 6, 2018, will
receive the cash dividend on January 2, 2019.
Paul Varga, Chief Executive Officer of Brown-Forman said, "Our
5.1% dividend increase marks the 35th consecutive year of dividend
increases at Brown-Forman, and the 73rd year of paying quarterly
dividends at the company. Returning cash to our shareholders
has been an important contributor to our ability to generate great
returns for our shareholders."
Brown-Forman is a member of the prestigious Standard &
Poor’s 500 Dividend Aristocrats Index, which is composed of
companies that have increased their cash dividend every year for at
least 25 years.
The company also announced that Lawson Whiting, the company’s
incoming CEO (as of January 1, 2019) has been elected to the
company’s Board of Directors, effective immediately. As part of the
CEO transition process, Paul Varga will remain on the board until
the next annual meeting of shareholders on July 25, 2019, and that
will mark the conclusion of the board's multi-year succession plan
and his almost 16 years of service on the board.
“Lawson brings a wealth of business experience to the
Brown-Forman board, including more than two decades in various
roles at the company,” said Brown-Forman Board Chairman Geo. Garvin
Brown IV. “We’re excited to welcome him to the board and are
grateful to Paul for the important role he has played in this
thoughtful succession process.”
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 RTDs, 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, 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,” “can,” “continue,” “could,” “envision,”
“estimate,” “expect,” “expectation,” “intend,” “may,” “might,”
“plan,” “potential,” “project,” “pursue,” “see,” “seek,” “should,”
“will,” “would,” and similar words indicate 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 and the effectiveness of our actions to mitigate the
potential negative impact on our sales and distributors; 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 small 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 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, or 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/20181115006055/en/
Rob FrederickVice PresidentDirector CorporateBrand and
Communications502-774-7707
Jay KovalVice PresidentDirector
InvestorRelations502-774-6903
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