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Brown-Forman Trims FY20 Outlook - Quick Facts

While reporting financial results for the third quarter on Wednesday, Brown-Forman Corp. (BFA,BFB) trimmed its earnings and underlying net sales growth outlook for the full-year 2020, reflecting tempered expectations in some of its international markets reflecting both short-term disruptions and an increasingly uncertain global economic and geopolitical environment. This outlook also includes an estimated impact of COVID-19 (coronavirus).

For fiscal 2020, the company projects now earnings in a range of $1.75 to $1.80 per share on underlying net sales growth in the low-single digits.

Previously, the company expected earnings in a range of $1.75 to $1.85 per share on underlying net sales growth in the 5 to 7 percent range.

On January 28, 2020, the Brown-Forman Board of Directors declared a regular quarterly cash dividend of $0.1743 per share on the Class A and Class B common stock, payable on April 1, 2020, to stockholders of record on March 9, 2020.

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