Brown-Forman Stockholders Elect Directors and Board Approves Cash Dividend
2024年7月26日 - 5:01AM
ビジネスワイヤ(英語)
Brown-Forman Corporation (NYSE: BFA, BFB) stockholders met today
at the annual meeting of stockholders and elected the slate of
directors recommended by the Board of Directors, as submitted in
the company’s 2024 Proxy Statement. The stockholders also ratified
the selection of Ernst & Young LLP as Brown-Forman's
independent registered public accounting firm for fiscal year
2025.
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W. Austin Musselman, Jr. (Photo: Business
Wire)
W. Austin Musselman Jr., a fifth-generation descendant of
Brown-Forman founder George Garvin Brown, was elected to the
company’s Board of Directors, effective immediately. Mr. Musselman
is the owner and manager of Ashbourne Farms, a fourth-generation
working farm in La Grange, Kentucky. He is also the managing member
of White Oak Investments LLC, a private holding company that
developed Haymarket, a retail chain of stores with an emphasis on
locally-sourced products. Mr. Musselman also serves on the Board of
Directors for The Glenview Trust Company. He was a founding member
of the Brown-Forman/Brown Family Shareholders Committee and was a
founding board member of the Brown-Forman Foundation.
"Austin has shown commitment as a family shareholder for many
years, and I am pleased to see him take a seat on the Brown-Forman
Board of Directors," Campbell P. Brown, Chair of the Board, stated.
"Not only does he add to our Board's financial and entrepreneurial
acumen, but as a family shareholder he brings the long-term
perspective that has given our company the resiliency to succeed
for more than 150 years."
With his election to the Brown-Forman Board of Directors, Mr.
Musselman joins three fifth-generation family members, including
Elizabeth M. Brown, Marshall B. Farrer, and Campbell P. Brown,
Chair of the Board. He replaced Stuart R. Brown, who did not stand
for re-election after nine years of service.
"On behalf of our Board and the family shareholders, we are
grateful to Stuart for his years of service. He has provided a
voice of stability and commitment during years of growth and
change, balancing winning in the near term and creating value over
generations," Brown commented.
Lawson E. Whiting, President and Chief Executive Officer added,
“We are appreciative of Stuart for his time, knowledge, and
dedication he brought to the Board of Directors, and we look
forward to working with Austin as the newest member of the
Board.”
In a subsequent meeting, the Board of Directors approved a
regular quarterly cash dividend of $0.2178 per share on its Class A
and Class B Common Stock. The dividend is payable on October 1,
2024, to stockholders of record on September 3, 2024. Brown-Forman,
a member of the prestigious S&P 500 Dividend Aristocrats index,
has paid regular quarterly cash dividends for 80 consecutive years
and has increased the regular cash dividend for 40 consecutive
years.
For more than 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 Ready-to-Drinks, Jack Daniel's Tennessee Honey, Jack
Daniel's Tennessee Fire, Jack Daniel's Tennessee Apple, Gentleman
Jack, Jack Daniel's Single Barrel, Woodford Reserve, Old Forester,
Coopers’ Craft, The Glendronach, Benriach, Glenglassaugh, Slane,
Herradura, el Jimador, New Mix, Korbel, Chambord, Fords Gin, Gin
Mare, and Diplomático Rum. Brown-Forman’s brands are supported by
approximately 5,700 employees globally and sold in more than 170
countries worldwide. For more information about the company, please
visit brown-forman.com. Follow us on LinkedIn, Instagram, and X,
formerly Twitter.
Important Information on Forward-Looking Statements:
This press release contains statements that are “forward-looking
statements” as defined under U.S. federal securities laws. These
forward-looking statements reflect management’s expectations or
projections regarding future events and 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.
For further information on factors that could cause our actual
results to differ materially from our historical experience or from
our current expectations or projections, please refer to our public
filings, including 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.
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Rob Frederick Vice President Corporate Communications
rob_frederick@b-f.com 502-774-7707
Sue Perram Vice President Investor Relations
sue_perram@b-f.com 502-774-6862