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Beam Inc. (NYSE: BEAM), a leading global premium spirits company, today announced that its board of directors approved an 8% increase in the dividend on the company’s common stock. The dividend will increase 6 cents per share to an annual rate of $0.82 (payable 20.5 cents per quarter) from $0.76 per share (19 cents per quarter). The company also declared the next quarterly dividend of 20.5 cents per share, which will be payable on March 1, 2012 to shareholders of record at the close of business February 8, 2012.
“Beam retained the entire Fortune Brands dividend, and we’re pleased to boost our payout and create immediate value for shareholders so soon after becoming a pure-play spirits company,” said Matt Shattock, president and chief executive officer of Beam. “This dividend increase reflects several inherent strengths in Beam, including our cash flow generation and balance sheet, our excellent prospects for profitable long-term growth, and our strong stewardship of capital focused on maximizing long-term shareholder value.”
The company also declared a regular dividend of 66.75 cents per share on the $2.67 Convertible Preferred Stock, payable in cash on March 10, 2012 to shareholders of record at the close of business February 8, 2012.
About Beam Inc.
As one of the world’s leading premium spirits companies, Beam is Crafting the Spirits that Stir the World. Consumers from all corners of the globe call for the company’s brands, including Jim Beam Bourbon, Maker's Mark Bourbon, Sauza Tequila, Canadian Club Whisky, Courvoisier Cognac, Teacher's Scotch Whisky, Kilbeggan Irish Whiskey, Laphroaig Scotch Whisky, Cruzan Rum, Hornitos Tequila, Knob Creek Bourbon, EFFEN Vodka, Pucker Flavored Vodka, Larios Gin, Whisky DYC, DeKuyper Cordials, and Skinnygirl Cocktails. The Beam portfolio includes 10 of the world’s top 100 premium spirits brands and some of the industry’s fastest growing innovations. Beam is focused on delivering superior performance with its unique combination of scale with agility and a strategy of Creating Famous Brands, Building Winning Markets and Fueling Our Growth. Beam and its 3,200 passionate associates worldwide generated 2010 sales of $2.7 billion on volume of 33 million 9-liter cases.