Brown-Forman OKs $400M in stock buy back

10:01 a.m. Oct. 7, 2025

DUANE CROSS
MCO Publisher•Editor

Brown-Forman Corporation, the maker of Jack Daniel’s and other premium spirits, announced Thursday, Oct. 2, that its Board of Directors has approved a $400 million share repurchase authorization effective Oct. 1, 2025, through Oct. 1, 2026.

The program enables the Louisville, Ky.-based company to buy back shares of its Class A and Class B common stock in various ways – including open-market purchases, block transactions, privately negotiated deals, and transactions conducted under Rule 10b5-1 of the Securities Exchange Act of 1934. The authorization gives Brown-Forman flexibility to determine when and how much stock to repurchase, and it can modify, suspend, or terminate the program at any time without notice.

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“Despite an increasingly competitive environment, we remain confident in our ability to generate strong cash flow,” said Lawson Whiting, Brown-Forman president and CEO. “This repurchase is aligned with our broader capital deployment priorities and reflects our commitment to returning capital to shareholders while maintaining flexibility to invest in growth.”

Corporations often initiate stock buybacks as a way to return value to shareholders. By reducing the number of shares outstanding, buybacks can increase earnings per share and potentially boost the stock price. They also signal to investors that company leaders believe the stock is undervalued or that the firm’s financial position is strong enough to return cash without sacrificing future investments.

Brown-Forman, one of the oldest spirits companies in the U.S., continues to balance reinvestment in its portfolio with shareholder returns. The new repurchase authorization follows previous buyback efforts aimed at managing dilution and optimizing its capital structure.