Brown-Forman Corporation announced that its Board of Directors increased its quarterly cash dividend on its Class A and Class B Common Stock by 5.1% to $0.166 per share from the prior quarter's $0.158 per share. As a result, the indicated annual cash dividend will rise from $0.632 per share to $0.664 per share. Stockholders of record on December 6, 2018, will receive the cash dividend on January 2, 2019.

The company also announced that Lawson Whiting, the company's incoming CEO as of January 1, 2019, has been elected to the company's Board of Directors, effective immediately. As part of the CEO transition process, Paul Varga will remain on the board until the next annual meeting of shareholders on July 25, 2019.