Dividend Aristocrat Brown-Forman raises dividend for 34th year in 2017

Dividend Aristocrat Brown-Forman Corporation (BFB) will raise its dividend to $0.1975 quarterly.

The quarterly dividend will be increased by 8.2 percent to $0.1975 per share in the fourth quarter of 2017. The new dividend yield for the Jack Daniels maker is 1.4%.

The dividend will be paid on January 2, 2018 to stockholders of record on December 7, 2017.

Brown-Forman stock has gained 31 percent in 2017

Paul Varga, Chief Executive Officer of Brown-Forman said, "Our 8.2% dividend increase for calendar year 2018 marks the 34th consecutive year of dividend increases. Brown-Forman's strong cash flow generation and our continued prospects for growth underpin the quality and consistency of our dividend program."

Last year Brown-Forman raised its dividend for the 33rd consecutive year.

Brown-Forman Corporation is a spirit and wine company. The Company manufactures, bottles, imports, exports, markets and sells a range of alcoholic beverages. Its brands include Jack Daniel's, Finlandia Vodkas, el Jimador and Herradura Tequilas, Canadian Mist Canadian Whisky and Sonoma-Cutrer California Wines.