Brown-Forman Increases Cash Dividend for 37th Consecutive Year

Brown-Forman Corporation (NYSE: BFA) (NYSE: BFB) announced today that its Board of Directors increased its quarterly cash dividend on its Class A and Class B Common Stock by 3.0% to $0.1795 per share from the prior quarter’s $0.1743 per share. As a result, the indicated annual cash dividend will rise to $0.7180 per share from $0.6972 per share. Stockholders of record on December 4, 2020, will receive the cash dividend on January 4, 2021.

This marks the 37^th consecutive year of dividend increases at Brown-Forman and the 76^th year of paying quarterly dividends in the company’s 150-year history. Lawson Whiting, President and Chief Executive Officer of Brown-Forman said, "In this uncertain environment, we are pleased to increase our dividend and continue our long-term track record of regular quarterly dividend payments. This 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 is a member of the prestigious Standard & Poor’s 500 Dividend Aristocrats Index, which is composed of companies that have increased their cash dividend every year for at least 25 years.

For 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including the Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Gentleman Jack, Jack Daniel’s Single Barrel, Finlandia, Korbel, el Jimador, Woodford Reserve, Old Forester, Coopers’ Craft, Herradura, New Mix, Sonoma-Cutrer, Chambord, BenRiach, GlenDronach, Slane, and Fords Gin. Brown-Forman’s brands are supported by approximately 4,800 employees and sold in more than 170 countries worldwide. For more information about the company, please visit http://www.brown-forman.com/.

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