Brown-Forman Corporation - BF.A STOCK NEWS

Brown-Forman Corporation (NYSE: BF.A, BF.B) has declared a quarterly cash dividend of $0.1885 per share for its Class A and B Common Stock. This dividend will be paid on April 1, 2022, to stockholders of record as of March 8, 2022. As a member of the S&P 500 Dividend Aristocrats index, Brown-Forman has consistently paid dividends for 78 years and has raised its dividend for 38 consecutive years, demonstrating a commitment to returning value to shareholders.

Brown-Forman Corporation (NYSE: BF.A, BF.B) has elected Jan Singer to its Board of Directors, increasing the total number of directors to 12. Singer, former CEO of J.Crew and Victoria's Secret, brings extensive leadership experience in consumer and retail sectors. She has successfully implemented financial restructuring and brand positioning strategies. The Board Chair, Campbell P. Brown, emphasized her capability in building brands for long-term growth, which may strengthen Brown-Forman's strategic direction.

Brown-Forman Corporation (NYSE: BFA, BFB) reported its financial results for Q2 and the first half of fiscal 2022. Net sales increased by 1% to $994 million in Q2 and 9% to $1,900 million for the first half, driven by strong performances in the premium spirits sector, especially Jack Daniel’s and tequila brands. However, operating income fell by 2% in Q2 and 15% for the first half, with diluted earnings per share decreasing by 2% and 24%, respectively. The company anticipates continued growth despite supply chain disruptions and recently raised its sales growth outlook for the fiscal year.

Brown-Forman Corporation (NYSE: BF.A, BF.B) announced its Board of Directors approved a 5% increase in the quarterly cash dividend to $0.1885 per share, raising the annual dividend to $0.7540. This marks the 38th consecutive year of dividend increases. Additionally, a special dividend of $480 million was declared, to be distributed on December 29, 2021. This shows strong financial health, as the company continues to pay dividends for 78 years, reinforcing its position in the S&P 500 Dividend Aristocrats Index.

Brown-Forman Corporation (NYSE: BF.A, BF.B) has announced a 5% increase in its quarterly cash dividend to $0.1885 per share, raising the annual dividend from $0.7180 to $0.7540. This marks the 38th consecutive year of dividend increases. A special cash dividend of $480 million, or $1.00 per share, is also declared, payable on December 29, 2021. Stockholders of record by December 3, 2021 will benefit from the increased dividends.

Brown-Forman Corporation will announce its financial results for the second quarter and first half of fiscal year 2022 on December 8, 2021, at 8:00 a.m. (EST). Following the release, a conference call will be held at 10:00 a.m. (EST) to discuss the findings. Participants can join through the company's website or by dialing in for the call. Brown-Forman has a strong portfolio of brands, including Jack Daniel’s, and operates in over 170 countries with around 4,700 employees.

Brown-Forman Corporation praised the Biden Administration for reaching an agreement with the EU to eliminate tariffs on American whiskey, which have been active for over three years. This action is seen as a step towards strengthening the Transatlantic alliance and fostering international growth for American whiskey. The tariffs are set to be lifted on January 1, 2022. Lawson Whiting, the President and CEO, expressed gratitude towards the involved policymakers and emphasized the hope for similar outcomes with the UK.

Brown-Forman Corporation has committed to achieving 100% renewable electricity by 2030, joining the RE100 initiative. This step aligns with their Global Sustainability Goals aimed at reducing environmental impact.

Incorporating investments in solar and wind energy, the initiative is a strategic move to address climate change risks. Over 300 global businesses have joined RE100, signaling a serious commitment to renewable energy. Brown-Forman aims to hold itself accountable to global sustainability standards.