Brown-Forman Corporation (NYSE: BFA, BFB) announced that its Board of 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’s President and Chief Executive Officer Lawson Whiting said in a news release, “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.”

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 Corporation owns numerous beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Ready-to-Drinks, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Chambord, Fords Gin, Gin Mare, and Diplomático Rum. Brown-Forman’s brands are supported by approximately 5,600 employees globally and sold in more than 170 countries worldwide.

For more information about the company, visit brown-forman.com.