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Brown-Forman Increases Cash Dividend for 39th Consecutive Year; Elects Mark Clouse and Elizabeth Smith to Board of Directors

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LOUISVILLE, Ky.–(BUSINESS WIRE)–Brown-Forman Corporation (NYSE: BFA, BFB) announced today that its Board of Directors approved an increase of 9% to the quarterly cash dividend from $0.1885 per share to $0.2055 per share on its Class A and Class B Common Stock. As a result, the indicated annual cash dividend will rise from $0.7540 per share to $0.8220 per share. The dividend is payable on January 3, 2023, to stockholders of record on December 2, 2022. Brown-Forman, a member of the prestigious S&P 500 Dividend Aristocrats index, has paid regular quarterly cash dividends for 79 years and has increased the cash dividend for 39 consecutive years.


The company also announced that Mark Clouse and Elizabeth (Liz) Smith have been elected to the Board of Directors. The election of Clouse and Smith will bring the number of directors on Brown-Forman’s Board to 12. Clouse will join the board immediately, with Smith joining in January 2023.

“I am pleased to welcome Mark and Liz to the Brown-Forman Board of Directors. Mark and Liz have a strong understanding of the power of brands, a familiarity with the food, beverage, and hospitality industries, and valuable experience with global organizations like Brown-Forman,” said Campbell P. Brown, Brown-Forman Board Chair. “We look forward to their contributions as we continue our company’s enduring journey to deliver growth and value to all our shareholders.”

Clouse is President and Chief Executive Officer of Campbell Soup Company. He brings more than two decades of experience in the food industry with a track record of delivering revenue and earnings growth and generating significant value for shareholders.

Prior to joining Campbell, Clouse served as Chief Executive Officer and Director of Pinnacle. Previously, at Mondelēz International, he held key roles including Executive Vice President and Chief Commercial Officer, Executive Vice President and Chief Growth Officer, and Executive Vice President, North America. Clouse joined Kraft Foods after serving in the United States Army as a pilot and a captain.

Smith is the former Chief Executive Officer of Bloomin’ Brands and was responsible for developing and executing the company’s long-term objectives, growth strategies, and initiatives for its portfolio of casual and fine dining brands. Her leadership was instrumental in the revitalization of the company’s core brands, domestically and internationally. Smith also served as Executive Chair and Chairperson of the Bloomin’ Brands Board of Directors. Currently, she serves as a member of the Board of Directors of Bloomin’ Brands, Hilton Worldwide Holdings, Inc., USA Fund for UNICEF, and as Chair of the Atlanta Federal Reserve Board.

Prior to Bloomin’ Brands, Smith was President of Avon Products, Inc., where she successfully led the company’s global marketing, supply chain, information technology, and sales business units. Smith also worked in several roles at Kraft Foods, Inc., including Group Vice President and President of the U.S. beverages and grocery sectors.

For more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers’ Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord, Fords Gin, and Gin Mare. Brown-Forman’s brands are supported by approximately 5,200 employees globally and sold in more than 170 countries worldwide. For more information about the company, please visit brown-forman.com. Follow us on Twitter, Instagram, and LinkedIn.

Important Information on Forward-Looking Statements:

This press release contains statements, estimates, and projections that are “forward-looking statements” as defined under U.S. federal securities laws, including statements regarding plans for onboarding new directors. Words such as “aim,” “anticipate,” “aspire,” “believe,” “can,” “continue,” “could,” “envision,” “estimate,” “expect,” “expectation,” “intend,” “may,” “might,” “plan,” “potential,” “project,” “pursue,” “see,” “seek,” “should,” “will,” “would,” and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections.

These risks and uncertainties include, but are not limited to:

  • Our substantial dependence upon the continued growth of the Jack Daniel’s family of brands
  • Substantial competition from new entrants, consolidations by competitors and retailers, and other competitive activities, such as pricing actions (including price reductions, promotions, discounting, couponing, or free goods), marketing, category expansion, product introductions, or entry or expansion in our geographic markets or distribution networks
  • Route-to-consumer changes that affect the timing of our sales, temporarily disrupt the marketing or sale of our products, or result in higher fixed costs
  • Disruption of our distribution network or inventory fluctuations in our products by distributors, wholesalers, or retailers
  • Changes in consumer preferences, consumption, or purchase patterns – particularly away from larger producers in favor of small distilleries or local producers, or away from brown spirits, our premium products, or spirits generally, and our ability to anticipate or react to them; further legalization of marijuana; shifts in consumer purchase practices; bar, restaurant, travel, or other on-premise declines; shifts in demographic or health and wellness trends; or unfavorable consumer reaction to new products, line extensions, package changes, product reformulations, or other product innovation
  • Production facility, aging warehouse, or supply chain disruption
  • Imprecision in supply/demand forecasting
  • Higher costs, lower quality, or unavailability of energy, water, raw materials, product ingredients, or labor
  • Impact of health epidemics and pandemics, including the COVID-19 pandemic, and the risk of the resulting negative economic impacts and related governmental actions
  • Unfavorable global or regional economic conditions, particularly related to the COVID-19 pandemic, and related economic slowdowns or recessions, low consumer confidence, high unemployment, weak credit or capital markets, budget deficits, burdensome government debt, austerity measures, higher interest rates, higher taxes, political instability, higher inflation, deflation, lower returns on pension assets, or lower discount rates for pension obligations
  • Product recalls or other product liability claims, product tampering, contamination, or quality issues
  • Negative publicity related to our company, products, brands, marketing, executive leadership, employees, Board of Directors, family stockholders, operations, business performance, or prospects
  • Failure to attract or retain key executive or employee talent
  • Risks associated with acquisitions, dispositions, business partnerships, or investments – such as acquisition integration, termination difficulties or costs, or impairment in recorded value
  • Risks associated with being a U.S.-based company with a global business, including commercial, political, and financial risks; local labor policies and conditions; protectionist trade policies, or economic or trade sanctions, including additional retaliatory tariffs on American whiskeys and the effectiveness of our actions to mitigate the negative impact on our margins, sales, and distributors; compliance with local trade practices and other regulations; terrorism; and health pandemics
  • Failure to comply with anti-corruption laws, trade sanctions and restrictions, or similar laws or regulations
  • Fluctuations in foreign currency exchange rates, particularly a stronger U.S. dollar
  • Changes in laws, regulatory measures, or governmental policies – especially those that affect the production, importation, marketing, labeling, pricing, distribution, sale, or consumption of our beverage alcohol products
  • Tax rate changes (including excise, corporate, sales or value-added taxes, property taxes, payroll taxes, import and export duties, and tariffs) or changes in related reserves, changes in tax rules or accounting standards, and the unpredictability and suddenness with which they can occur
  • Decline in the social acceptability of beverage alcohol in significant markets
  • Significant additional labeling or warning requirements or limitations on availability of our beverage alcohol products
  • Counterfeiting and inadequate protection of our intellectual property rights
  • Significant legal disputes and proceedings, or government investigations
  • Cyber breach or failure or corruption of our key information technology systems or those of our suppliers, customers, or direct and indirect business partners, or failure to comply with personal data protection laws
  • Our status as a family “controlled company” under New York Stock Exchange rules, and our dual-class share structure

For further information on these and other risks, please refer to our public filings, including the “Risk Factors” section of our annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.

Contacts

ELIZABETH CONWAY

DIRECTOR

EXTERNAL COMMUNICATIONS

502-774-7737

SUE PERRAM

VP, DIRECTOR

INVESTOR RELATIONS

502-774-6862

SUE_PERRAM@B-F.COM

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Business Wire

Global Cannabidiol Market Report 2022: Growing Acceptance and Use of Products Due to Government Approvals Drives Sector – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Cannabidiol Market (2022-2027) by Type, Distribution Channel, End-User, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.

The Global Cannabidiol Market is estimated to be USD 3.76 Bn in 2022 and is expected to reach USD 8.15 Bn by 2027, growing at a CAGR of 16.72%

Market Dynamics

Drivers

  • Growing Acceptance and Use of Products Due to Government Approvals
  • Rising Demand from Medical and Pharmaceutical Industry
  • Increasing Awareness of Healing Properties of Cannabidiol

Restraints

  • Risk of Side-Effects Such as Dry Mouth, Diarrhea, Reduced Appetite
  • Legal Constraint on Sales of CBD in Some Countries

Opportunities

  • Increasing Customer Inclination Towards Natural or Herbal Remedies/Products
  • Boosting Product Sales Though Alliances With Health and Wellness Retailers

Challenges

  • Lack of Awareness and Standardization in Many Developing Markets

     

     

Market Segmentations

The Global Cannabidiol Market is segmented based on Type, Distribution Channel, End-User, and Geography.

  • By Type, the market is classified into Hemp and Marijuana.
  • By Distribution Channel, the market is classified into B2B and B2C.
  • By End-User, the market is classified into Medical, Personal Use, Pharmaceuticals, and Wellness.
  • By Geography, the market is classified into Americas, Europe, Middle-East & Africa, and Asia-Pacific.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for publicly listed companies in the market. The report also offers detailed information on the companies’ recent development and competitive scenario. Some of the companies covered in this report are ABcann Medicinals, Inc., Aphria, Inc, Aurora Cannabis, Cannoid, LLC, Canopy Growth Corp., etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the Global Cannabidiol Market. Ansoff Matrix, also known as the Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the Global Cannabidiol Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Key Topics Covered:

1 Report Description

2 Research Methodology

3 Executive Summary

4 Market Dynamics

5 Market Analysis

6 Global Cannabidiol Market, By Type

7 Global Cannabidiol Market, By Distribution Channel

8 Global Cannabidiol Market, By End-User

9 Americas’ Cannabidiol Market

10 Europe’s Cannabidiol Market

11 Middle East and Africa’s Cannabidiol Market

12 APAC’s Cannabidiol Market

13 Competitive Landscape

14 Company Profiles

15 Appendix

Companies Mentioned

  • ABcann Medicinals, Inc.
  • Aphria, Inc
  • Aurora Cannabis
  • Cannoid, LLC
  • Canopy Growth Corp.
  • CBD American Shaman
  • Cura CS
  • CV Sciences, Inc.
  • Elixinol
  • ENDOCA
  • Folium Biosciences
  • GW Pharmaceuticals, PLC
  • HempLife Today, LLC
  • IrieCBD
  • Isodiol International, Inc.
  • Kazmira, LLC
  • Maricann, Inc.
  • MEDICAL MARIJUANA, Inc.
  • Merck KGaA
  • NuLeaf Naturals, LLC
  • Organigram Holding, Inc.
  • Pharmahemp d.o.o.
  • Phyto Animal Health
  • Tikun Olam
  • Tilray

For more information about this report visit https://www.researchandmarkets.com/r/w3new1

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

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Organigram Launches HOLY MOUNTAIN to Further Support Its Strong Position in the Dried Flower and Hash Categories

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HOLY MOUNTAIN product portfolio will primarily focus on value whole flower and concentrates

TORONTO–(BUSINESS WIRE)–Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), (the “Company” or “Organigram”), a leading licensed producer of cannabis, is pleased to announce the launch of HOLY MOUNTAIN, the Company’s newest value brand featuring an initial lineup of dried flower strains and entering the market with value pressed hash. With the introduction of HOLY MOUNTAIN, Organigram will now offer value-priced flower in an expanded range of sizes, starting with 3.5g offerings at launch and additional sized formats expected soon after.


“The HOLY MOUNTAIN brand will feature iconic flower cultivars including MAC-1 and R*NTZ. Additionally, the 2g Pressed Hash Cube represents the newest hash product being produced at our Quebec-based hash facility located in the foothills of the Tremblant Mountain,” says Eric Williams Senior Director of Marketing at Organigram.

The first HOLY MOUNTAIN products to come to market are:

  • R*NTZ: Featuring fruit, berry and gas aromas, this renowned indica draws on its powerhouse Zkittlez and Gelato lineage and offers a THC range of 18-24%
  • MAC-1: MAC-1 buds pair 18-24% THC with citrus, diesel and spice aromas, and descend from a truly legendary lineage of Miracle 15 and Alien Cookies
  • PRESSED HASH: This 2g hash cube, crafted by the team known for Organigram-owned Tremblant Hash, features classic rich, spicy and herbal aromas and THC of 29-36%

Organigram is currently a leading licensed producer1 in the Canadian cannabis flower category with its two best-selling value brands, SHRED and Big Bag o’ Buds, which play specifically in the pre-milled and 28g whole flower categories, respectively. Consumers and retailers will now have access to Organigram’s high-quality, Moncton-grown whole flower in multiple sizes at an appealing price point.

“Organigram is well known for our commitment to listening closely to our consumers and developing brands and products that respond creatively to their diverse preferences,” says Beena Goldenberg, CEO Organigram. “Our goal is not to be everything to everyone, but rather to have high quality, imaginative products and brands that successfully appeal to, and engage, our targeted consumer segments.”

For more information about HOLY MOUNTAIN, visit holymountaincannabis.ca, @holymountaincannabis on Instagram and follow @holymtncannabis on Twitter.

Finally, Organigram has launched new value brand Wô Lá, which has the same value flower focus as HOLY MOUNTAIN but created specifically for the Quebec market.

Both HOLY MOUNTAIN and Wô Lá are now available at select retailers across Canada.

About Organigram Holdings Inc.

Organigram Holdings Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include: Organigram Inc. and Laurentian Organic Inc., licensed producers of cannabis and cannabis-derived products in Canada, and The Edibles and Infusions Corporation, a licensed manufacturer of cannabis-infused edibles in Canada.

Organigram is focused on producing high-quality, cannabis for patients and adult recreational consumers, as well as developing international business partnerships to extend the Company’s global footprint. Organigram has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Big Bag O’ Buds, SHRED, SHRED’ems, Monjour, Laurentian, Tremblant Cannabis and Trailblazer. Organigram operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada).

Forward-Looking Information

This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include changes to market conditions, consumer preferences and regulatory climate, and factors and risks as disclosed in the Company’s most recent annual information form, management’s discussion and analysis and other Company documents filed from time to time on SEDAR (see www.sedar.com) and filed or furnished to the Securities and Exchange Commission on EDGAR (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

1 Source: Hifyre retail data, October 2022

Contacts

For Investor Relations enquiries:
investors@organigram.ca

For Media enquiries:
Paolo De Luca
paolo.deluca@organigram.ca
Chief Strategy Officer, Organigram

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Leafly to Participate at Upcoming Investor Conferences

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SEATTLE–(BUSINESS WIRE)–Leafly Holdings, Inc. (“Leafly” or “the Company”) (NASDAQ: LFLY), a leading online cannabis discovery marketplace and resource for cannabis consumers, today announced that members of its management team will participate in upcoming investor conferences.

Details for the events are as follows:

Cowen 5th Annual Cannabis Conference

Thursday, December 8, 2022, at 12:30 pm ET. A live webcast and replay of the presentation may be accessed from the Events section of Leafly’s Investor Relations website, https://investor.leafly.com/, if available.

The company will also be hosting meetings at the Benchmark Discovery One-on-One Investor Conference on December 1st in New York, NY.

About Leafly

Leafly helps millions of people discover cannabis each year. Our powerful tools help shoppers make informed purchasing decisions and empower cannabis businesses to attract and retain loyal customers through advertising and technology services. Learn more at Leafly.com or download the Leafly mobile app through Apple’s App Store or Google Play.

Contacts

Media
Josh deBerge

josh.deberge@leafly.com
206-445-9387

Investors
Keenan Zopf

IR@leafly.com
Source: Leafly Holdings, Inc.

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