Brown-Forman hikes dividend by 9%

On November 17, 2022, Dividend Aristocrat Brown-Forman Corporation announced a dividend hike of 9% to $0.2055 quarterly per share. This marks 39 consecutive years of dividend growth. The new dividend yield for Brown-Forman is 1.2% at a stock price of $73.

The dividend is payable on January 3, 2023, to stockholders of record on December 2, 2022. Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 79 years and has increased the cash dividend for 39 consecutive years.

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells a wide variety of alcoholic beverages. The company's brands include Jack Daniel’s, Korbel, el Jimador, Woodford Reserve, Old Forester, Coopers’ Craft, Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times, Chambord, BenRiach, GlenDronach, Slane, and Fords Gin. Brown-Forman Corporation was incorporated under the laws of the State of Delaware in 1933, successor to a business founded in 1870 as a partnership and later incorporated under the laws of the Commonwealth of Kentucky in 1901. The Brown family controls more than 50% of the economic ownership in Brown-Forman.