"Beam retained the entire Fortune Brands dividend, and we're pleased to boost our pay-out 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.
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