Constellation Brands (STZ) will raise its quarterly dividend by 1.3 percent to 76 cents per share in 2021. This is the first dividend hike announced by the company since 2019. At the time STZ hiked its dividend by 1.4 percent to $0.75 per share in the second quarter of 2019. This new hike for 2021 marks the 6th consecutive calendar year of dividend increases by the beverage company.

The next dividend will be paid on May 18, 2021 to shareholders of record on May 4, 2021. The annual dividend rate of $3.04 per share yields approximately 1.3% at a stock price of $226.57. Based on calculations by dividendhike.com Constellation Brands now pays an estimated $586 million in dividends to shareholders annually.

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.