Under this plan, the company can repurchase shares from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase programme may be modified, suspended, terminated or extended by the company at any time without prior notice.
Paul Varga, chief executive officer of Brown-Forman said: ďThe announcement of this share repurchase authorisation demonstrates our continued confidence in the long-term growth prospects of Brown-Forman.Ē
Brown-Formanís brands include Jack Danielís Tennessee Whiskey, Southern Comfort, Finlandia and Woodford Reserve. The brands are sold in approximately 135 countries worldwide.