Dividend Aristocrat Brown-Forman Corporation (BFB) will raise its quarterly dividend by 5.0 percent to $0.1743 per share. This marks the Jack Daniel's owner's 36th consecutive year of dividend increases and follows a 5.1 percent dividend hike last year.

The next dividend will be paid on January 2, 2020 to shareholders of record on December 5, 2019. A new indicated annual cash dividend of $0.6972 per share yields 1.0% at a stock price of $67.24.

Lawson Whiting, President and Chief Executive Officer of Brown-Forman said, "Our increased dividend reflects the strength of our cash flows, the health of our balance sheet, and our confidence in the long-term growth prospects for the company.”

Brown-Forman Corporation manufactures, bottles, imports, exports, markets, and sells a wide variety of alcoholic beverages. The company's brands include Jack Daniel’s, Korbel, el Jimador, Woodford Reserve, Old Forester, Coopers’ Craft, Canadian Mist, Herradura, New Mix, Sonoma-Cutrer, Early Times, Chambord, BenRiach, GlenDronach, Slane, and Fords Gin. 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.