Company Boosts Indicated Annual Rate to $0.90
from $0.82, Declares Regular Dividend
Beam Inc. (NYSE: BEAM), a leading global premium spirits company, today
announced that its board of directors approved a 10% increase in the
indicated annual dividend rate on the company's common stock. The
dividend will increase 8 cents per share to an annual rate of $0.90
(payable 22.5 cents per quarter) from $0.82 per share (20.5 cents per
The company also declared a regular dividend for the first quarter of
22.5 cents per share, which will be payable on March 1, 2013 to
shareholders of record at the close of business on February 6, 2013.
"Even as Beam continues to see substantial high-return opportunities to
build our brands and create long-term shareholder value, we also return
immediate value to shareholders with an attractive dividend," said Matt
Shattock, president and chief executive officer of Beam. "Our long-term
target is to sustain an earnings payout ratio of approximately 35-40%,
and this double-digit increase in the dividend reflects the Board's and
management's confidence in our prospects to deliver sustainable,
profitable long-term growth."
As previously announced, the company will report full-year results for
2012 on Friday, February 1st.
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, Pinnacle Vodka, Canadian Club
Whisky, Courvoisier Cognac, Teacher's Scotch Whisky, Cruzan Rum,
Hornitos Tequila, Knob Creek Bourbon, Laphroaig Scotch Whisky, Kilbeggan
Irish Whiskey, EFFEN Vodka, Pucker Flavored Vodka, Larios Gin, Whisky
DYC, DeKuyper Cordials, and Skinnygirl Cocktails. 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.
Headquartered in Deerfield, Illinois, Beam is traded on the New York
Stock Exchange under the ticker symbol BEAM and is included in the S&P
500 Index and the MSCI World Index. For more information on Beam, its
brands, and its commitment to social responsibility, please visit www.beamglobal.com
This press release contains forward-looking statements, as that term is
defined in the Private Securities Litigation Reform Act of 1995. Readers
are cautioned that these forward-looking statements speak only as of the
date hereof, and the company does not assume any obligation to update,
amend or clarify them to reflect events, new information or
circumstances occurring after the date of this release. Actual results
may differ materially from those projected as a result of certain risks
and uncertainties, including the risks and uncertainties described from
time to time in the Company's Securities and Exchange Commission filings.