Brown-Forman Corporation (BF) will raise its quarterly dividend to $0.1825 per share (adjusted for the August 19, 2016 stock split). Stockholders of record on December 2, 2016 will receive the cash dividend on January 3, 2017.

Paul Varga, Chief Executive Officer of Brown-Forman said, "Brown-Forman continues its long tradition of increasing our regular dividend at healthy rates. Today's 7.4% increase marks the 33(rd) consecutive year of dividend growth at the company and reflects our continued confidence in the growth prospects for our company."

Dividend Aristocrat Brown-Forman Corporation is a spirit and wine company with Jack Daniels as one of its principal brands. 

Today's dividend increase indicates an annualized rate of $0.73 per common share and a yield of approximately 1.6% based on the $45.89 closing price on November 17, 2016. 

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells a wide variety of alcoholic beverages. The company's brands include Jack Daniel’s, Finlandia, Canadian Mist and el Jimador. 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.