Louisville, KY, September 29, 2008 - The board of directors of Brown-Forman Corporation declared a stock split, to be effected as a dividend, on both Class A and Class B common stock, payable in shares of Class B common stock.
For every four shares of either Class A or Class B common stock held, shareholders of record as of the close of business on October 6, 2008 will receive one share of Class B common stock, with any fractional shares payable in cash. The additional shares and cash for fractional shares will be distributed to stockholders on October 27, 2008. The previously announced $0.34 per share quarterly cash dividend will be paid October 1, 2008 and will not be affected by this distribution of stock. Any future cash dividend declared will reflect the greater number of shares outstanding after the distribution. In addition, all per-share amounts in the company’s subsequent financial statements will reflect the stock distribution.
Brown-Forman will begin trading on the NYSE on a price adjusted basis on October 28, 2008.
Brown-Forman Corporation is a producer and marketer of fine quality beverage alcohol brands, including Jack Daniel’s, Southern Comfort, Finlandia Vodka, Tequila Herradura, el Jimador Tequila, Canadian Mist, Fetzer and Bolla Wines, and Korbel California Champagnes.