Constellation Brands (STZ) will raise its quarterly dividend to $0.52 per share.

The increased dividend will be paid on May 24, 2017, to stockholders of record as of the close of business on May 10, 2017. 

"Our strong financial results and record operating cash flow in fiscal 2017 created flexibility that enabled a dividend increase, significant share repurchases, value-creating acquisitions and continued investments to support the ongoing growth of our business throughout the year. Given this momentum, we are significantly increasing our dividend for the coming year and we are expecting to generate approximately $2.0 billion in operating cash flow for fiscal 2018," said David Klein, executive vice president and chief financial officer, Constellation Brands. "I am also pleased that we have completed the next phase of our expansion project to 25 million hectoliters ahead of schedule at our Nava brewery in Mexico," said Klein.

Constellation Brands, Inc. is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Constellation's imported brands include Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Pacifico and Ballast Point. In addition, Constellation is the world leader in premium wine, selling brands including Robert Mondavi, Clos du Bois, Kim Crawford, Meiomi, Mark West, Black Box, Ruffino and The Prisoner. The company’s premium spirits brands include SVEDKA Vodka, Casa Noble Tequila and High West Whiskey.