Brown-Forman Increases Cash Dividend for 41st Consecutive Year

Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors approved an increase of 4% to the quarterly cash dividend from $0.2178 per share to $0.2265 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.8712 per share to $0.9060 per share. The dividend is payable on January 2, 2025, to stockholders of record on December 6, 2024.

Brown-Forman’s President and Chief Executive Officer Lawson Whiting said, "Brown-Forman believes deeply in building an enduring business, and we are proud to deliver 41 consecutive years of dividend increases. This is a testament to our long-term perspective and ongoing commitment to our valued shareholders.”

Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 81 years and has increased the cash dividend for 41 consecutive years.

Brown-Forman Corporation has been building exceptional spirits brands for more than 150 years, responsibly upholding our founding promise of "Nothing Better in the Market.” Our portfolio of premium brands includes the Jack Daniel’s Family of Brands, Woodford Reserve, Herradura, el Jimador, Korbel, New Mix, Old Forester, The Glendronach, Glenglassaugh, Benriach, Diplomático Rum, Chambord, Gin Mare, Fords Gin, Slane, and Coopers’ Craft. With a team of approximately 5,700 employees worldwide, we proudly share our passion for premium beverages in more than 170 countries. Discover more about us at brown-forman.com and stay connected through LinkedIn, Instagram, and X.

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This press release contains statements that are "forward-looking statements” as defined under U.S. federal securities laws. These forward-looking statements reflect management’s expectations or projections regarding future events and speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections.

For further information on factors that could cause our actual results to differ materially from our historical experience or from our current expectations or projections, please refer to our public filings, including the "Risk Factors” section of our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission.

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