Beam, Inc.(BEAM), the former Fortune Brands after its spinoff of Fortune Brands Home & Security(FBHS) in October, has announced that it will raise its dividend 8%, from an annual rate of $0.76 to $0.82.
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.”
Disclosure: The author holds no position in any stock mentioned
- Is Beam the Perfect Stock? (fool.com)
- 3 Candidates for the Next Great Dividend Stock (fool.com)
- Beam to Acquire Irish Whiskey Distiller (forbes.com)