Brown-Forman Corporation directors approved an increase of 6% to the quarterly cash dividend from $0.2055 per share to $0.2178 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.8220 per share to $0.8712 per share. The dividend is payable on January 2, 2024, to stockholders of record on December 1, 2023.
Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 80 years and has increased the cash dividend for 40 consecutive years.
Brown-Forman’s President and Chief Executive Officer Lawson Whiting said, “We are proud to continue the long tradition of delivering excellent returns to our shareholders. This marks the 40th consecutive year of dividend increases and reinforces our confidence in Brown-Forman's long-term growth outlook.”