Louisville, KY, November 16, 2009 – Brown-Forman announced today that its Board of Directors declared a quarterly cash dividend of $0.30 per share on its Class A and Class B Common Stock, a 4.3% increase over the prior quarter’s $0.2875 dividend that was paid on each class. As a result, the indicated annual cash dividend will rise from $1.15 to $1.20 per share.
Stockholders of record on December 7, 2009 will receive the cash dividend on January 4, 2010. This marks Brown-Forman’s 64th consecutive year of quarterly dividends and the 26th consecutive year it has increased the annual dividend.
Paul Varga, Chief Executive Officer, stated, “We are pleased to raise our dividend in this challenging economic environment, particularly in a year where many companies have been forced to reduce or suspend theirs. This continuation of our impressive long-term track record of regular quarterly dividend payments and annual increases reflects the continued strength of our balance sheet, cash flows, and future growth prospects, as well as our commitment to our shareholders.”