November 18, 2021 Brown‑Forman Increases Cash Dividend for 38th Consecutive Year and Declares Special Cash Dividend

Louisville, KY – Brown‑Forman Corporation (NYSE: BFA) (NYSE: BFB) announced today that its Board of Directors approved an increase to its quarterly cash dividend and declared a special one-time dividend.

The company increased its quarterly cash dividend on its Class A and Class B Common Stock by 5% to $0.1885 per share from the prior quarter’s $0.1795. As a result, the indicated annual cash dividend will rise from $0.7180 per share to $0.7540 per share. Stockholders of record on December 3, 2021, will receive the cash dividend on December 28, 2021. This marks the 38th consecutive year of dividend increases at Brown‑Forman and the 78th year of paying quarterly dividends at the company. Brown‑Forman is a member of the prestigious S&P 500 Dividend Aristocrats Index, which is composed of companies that have increased their cash dividend every year for at least 25 years.

Additionally, Brown‑Forman’s Board of Directors declared a special dividend of $480 million on its Class A and Class B stock, or $1.00 per share, that will be paid on December 29, 2021 to stockholders of record on December 9, 2021.

Brown‑Forman’s President and Chief Executive Officer Lawson Whiting said, “We are emerging from an unprecedented time in history. As it has throughout many generations, Brown‑Forman’s business has remained strong and resilient, driven by the strength of our portfolio, the health of our balance sheet, and the agility of our people.”

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