Brown-Forman Declares $0.2310 Quarterly Dividend, Extends 42-Year Increase Streak
Brown-Forman Corporation (NYSE: BF), a spirits and wine producer, declared a regular cash dividend of $0.2310 per share on February 18, 2026. The payment extends the company's dividend increase streak to 42 consecutive years.
Brown-Forman Corporation (NYSE: BF), a spirits and wine producer, declared a regular cash dividend of $0.2310 per share on February 18, 2026. The payment extends the company's dividend increase streak to 42 consecutive years and marks the 82nd consecutive year the company has paid regular quarterly dividends. Read more dividend announcements.
The dividend will be paid on April 1, 2026, to stockholders of record as of March 9, 2026. The payment applies to both Class A and Class B common stock.
| Dividend Details | Amount/Date |
|---|---|
| Amount per Share | $0.2310 |
| Record Date | March 9, 2026 |
| Payment Date | April 1, 2026 |
| Frequency | Quarterly |
Brown-Forman is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.
Capital Allocation and Cash Flow
The company completed a $400 million share repurchase program as of December 2025. The board authorized the buyback in October 2025 for shares purchased between October 1, 2025, and October 1, 2026, subject to market conditions.
Cash flows from operations grew $263 million to $709 million year-to-date, driven by disciplined working capital management. Free cash flow increased $299 million to $628 million, reflecting strong operating cash flow generation and lower capital expenditure needs.
Operating Performance
Operating income for the quarter was flat year-over-year, with a 3% decline on an organic basis. Operating margin increased 70 basis points to 30.0%, driven by substitution drawback claims and lower restructuring costs. The company incurred $19 million in charges related to a strategic restructuring initiative announced in January 2025.
Advertising expense decreased 3% as investments behind the launch of Jack Daniel's Tennessee Blackberry were offset by lower spending across other super-premium Jack Daniel's expressions. Selling, general, and administrative expenses decreased 1%, driven by lower compensation and benefit costs following the restructuring initiative.
The company reiterated its fiscal 2026 outlook, expecting organic net sales and operating income to decline in the low-single digit range. Brown-Forman cited headwinds from consumer uncertainty, macroeconomic volatility, and lower non-branded sales of used barrels.