Brown-Forman Will increase Money Dividend for thirty ninth Consecutive Yr


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Elects Mark Clouse and Elizabeth Smith to Board of Administrators

LOUISVILLE, Ky.–(BUSINESS WIRE)–
Brown-Forman Company (NYSE: BFA, BFB) introduced at present that its Board of Administrators accredited a rise of 9% to the quarterly money dividend from $0.1885 per share to $0.2055 per share on its Class A and Class B Frequent Inventory. In consequence, the indicated annual money dividend will rise from $0.7540 per share to $0.8220 per share. The dividend is payable on January 3, 2023, to stockholders of report on December 2, 2022. Brown-Forman, a member of the distinguished S&P 500 Dividend Aristocrats index, has paid common quarterly money dividends for 79 years and has elevated the money dividend for 39 consecutive years.

This press launch options multimedia. View the complete launch right here: https://www.businesswire.com/information/house/20221117005827/en/

Mark Clouse (Photo: Business Wire)

Mark Clouse (Photograph: Enterprise Wire)

The corporate additionally introduced that Mark Clouse and Elizabeth (Liz) Smith have been elected to the Board of Administrators. The election of Clouse and Smith will deliver the variety of administrators on Brown-Forman’s Board to 12. Clouse will be a part of the board instantly, with Smith becoming a member of in January 2023.

“I’m happy to welcome Mark and Liz to the Brown-Forman Board of Administrators. Mark and Liz have a powerful understanding of the ability of manufacturers, a familiarity with the meals, beverage, and hospitality industries, and priceless expertise with world organizations like Brown-Forman,” mentioned Campbell P. Brown, Brown-Forman Board Chair. “We sit up for their contributions as we proceed our firm’s enduring journey to ship development and worth to all our shareholders.”

Clouse is President and Chief Govt Officer of Campbell Soup Firm. He brings greater than 20 years of expertise within the meals business with a observe report of delivering income and earnings development and producing vital worth for shareholders.

Previous to becoming a member of Campbell, Clouse served as Chief Govt Officer and Director of Pinnacle. Beforehand, at Mondelēz Worldwide, he held key roles together with Govt Vice President and Chief Industrial Officer, Govt Vice President and Chief Development Officer, and Govt Vice President, North America. Clouse joined Kraft Meals after serving in america Military as a pilot and a captain.

Smith is the previous Chief Govt Officer of Bloomin’ Manufacturers and was accountable for growing and executing the corporate’s long-term targets, development methods, and initiatives for its portfolio of informal and nice eating manufacturers. Her management was instrumental within the revitalization of the corporate’s core manufacturers, domestically and internationally. Smith additionally served as Govt Chair and Chairperson of the Bloomin’ Manufacturers Board of Administrators. At present, she serves as a member of the Board of Administrators of Bloomin’ Manufacturers, Hilton Worldwide Holdings, Inc., USA Fund for UNICEF, and as Chair of the Atlanta Federal Reserve Board.

Previous to Bloomin’ Manufacturers, Smith was President of Avon Merchandise, Inc., the place she efficiently led the corporate’s world advertising, provide chain, data expertise, and gross sales enterprise items. Smith additionally labored in a number of roles at Kraft Meals, Inc., together with Group Vice President and President of the U.S. drinks and grocery sectors.

For greater than 150 years, Brown-Forman Company has enriched the expertise of life by responsibly constructing nice high quality beverage alcohol manufacturers, together with Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Hearth, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Previous Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Combine, Korbel, Sonoma-Cutrer, Finlandia, Chambord, Fords Gin, and Gin Mare. Brown-Forman’s manufacturers are supported by roughly 5,200 staff globally and offered in additional than 170 nations worldwide. For extra details about the corporate, please go to brown-forman.com. Observe us on Twitter, Instagram, and LinkedIn.

Necessary Data on Ahead-Wanting Statements:

This press launch accommodates statements, estimates, and projections which might be “forward-looking statements” as outlined beneath U.S. federal securities legal guidelines, together with statements relating to plans for onboarding new administrators. Phrases corresponding to “goal,” “anticipate,” “aspire,” “consider,” “can,” “proceed,” “might,” “envision,” “estimate,” “anticipate,” “expectation,” “intend,” “might,” “would possibly,” “plan,” “potential,” “venture,” “pursue,” “see,” “search,” “ought to,” “will,” “would,” and comparable phrases point out forward-looking statements, which converse solely as of the date we make them. Besides as required by regulation, we don’t intend to replace or revise any forward-looking statements, whether or not on account of new data, future occasions, or in any other case. By their nature, forward-looking statements contain dangers, uncertainties, and different elements (many past our management) that would trigger our precise outcomes to vary materially from our historic expertise or from our present expectations or projections.

These dangers and uncertainties embrace, however usually are not restricted to:

  • Our substantial dependence upon the continued development of the Jack Daniel’s household of manufacturers
  • Substantial competitors from new entrants, consolidations by rivals and retailers, and different aggressive actions, corresponding to pricing actions (together with value reductions, promotions, discounting, couponing, or free items), advertising, class enlargement, product introductions, or entry or enlargement in our geographic markets or distribution networks
  • Route-to-consumer adjustments that have an effect on the timing of our gross sales, quickly disrupt the advertising or sale of our merchandise, or end in greater mounted prices
  • Disruption of our distribution community or stock fluctuations in our merchandise by distributors, wholesalers, or retailers
  • Modifications in client preferences, consumption, or buy patterns – significantly away from bigger producers in favor of small distilleries or native producers, or away from brown spirits, our premium merchandise, or spirits usually, and our capability to anticipate or react to them; additional legalization of marijuana; shifts in client buy practices; bar, restaurant, journey, or different on-premise declines; shifts in demographic or well being and wellness developments; or unfavorable client response to new merchandise, line extensions, bundle adjustments, product reformulations, or different product innovation
  • Manufacturing facility, getting older warehouse, or provide chain disruption
  • Imprecision in provide/demand forecasting
  • Larger prices, decrease high quality, or unavailability of power, water, uncooked supplies, product substances, or labor
  • Impression of well being epidemics and pandemics, together with the COVID-19 pandemic, and the chance of the ensuing unfavorable financial impacts and associated governmental actions
  • Unfavorable world or regional financial circumstances, significantly associated to the COVID-19 pandemic, and associated financial slowdowns or recessions, low client confidence, excessive unemployment, weak credit score or capital markets, finances deficits, burdensome authorities debt, austerity measures, greater rates of interest, greater taxes, political instability, greater inflation, deflation, decrease returns on pension belongings, or decrease low cost charges for pension obligations
  • Product recollects or different product legal responsibility claims, product tampering, contamination, or high quality points
  • Detrimental publicity associated to our firm, merchandise, manufacturers, advertising, government management, staff, Board of Administrators, household stockholders, operations, enterprise efficiency, or prospects
  • Failure to draw or retain key government or worker expertise
  • Dangers related to acquisitions, tendencies, enterprise partnerships, or investments – corresponding to acquisition integration, termination difficulties or prices, or impairment in recorded worth
  • Dangers related to being a U.S.-based firm with a world enterprise, together with business, political, and monetary dangers; native labor insurance policies and circumstances; protectionist commerce insurance policies, or financial or commerce sanctions, together with further retaliatory tariffs on American whiskeys and the effectiveness of our actions to mitigate the unfavorable impression on our margins, gross sales, and distributors; compliance with native commerce practices and different laws; terrorism; and well being pandemics
  • Failure to adjust to anti-corruption legal guidelines, commerce sanctions and restrictions, or comparable legal guidelines or laws
  • Fluctuations in overseas forex trade charges, significantly a stronger U.S. greenback
  • Modifications in legal guidelines, regulatory measures, or governmental insurance policies – particularly people who have an effect on the manufacturing, importation, advertising, labeling, pricing, distribution, sale, or consumption of our beverage alcohol merchandise
  • Tax charge adjustments (together with excise, company, gross sales or value-added taxes, property taxes, payroll taxes, import and export duties, and tariffs) or adjustments in associated reserves, adjustments in tax guidelines or accounting requirements, and the unpredictability and suddenness with which they will happen
  • Decline within the social acceptability of beverage alcohol in vital markets
  • Vital further labeling or warning necessities or limitations on availability of our beverage alcohol merchandise
  • Counterfeiting and insufficient safety of our mental property rights
  • Vital authorized disputes and proceedings, or authorities investigations
  • Cyber breach or failure or corruption of our key data expertise techniques or these of our suppliers, clients, or direct and oblique enterprise companions, or failure to adjust to private information safety legal guidelines
  • Our standing as a household “managed firm” beneath New York Inventory Alternate guidelines, and our dual-class share construction

For additional data on these and different dangers, please consult with our public filings, together with the “Danger Elements” part of our annual report on Type 10-Ok and quarterly reviews on Type 10-Q filed with the Securities and Alternate Fee.

ELIZABETH CONWAY

DIRECTOR

EXTERNAL COMMUNICATIONS

502-774-7737

SUE PERRAM

VP, DIRECTOR

INVESTOR RELATIONS

502-774-6862

[email protected]

Supply: Brown-Forman Company



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