Press release from Business Wire
Molson Coors Brewing Company Increases Quarterly Dividend
Monday, May 03, 2010
Molson Coors Brewing Company Increases Quarterly Dividend08:30 EDT Monday, May 03, 2010 DENVER & MONTREAL (Business Wire) -- Molson Coors Brewing Company (MCBC) (NYSE: TAP) today announced that its Board of Directors has increased the quarterly dividend on its Class A and Class B common shares by 16.7 percent, or $0.04, to US$0.28 per share. This is equivalent to an annual dividend of US$1.12 per share, up from US$0.96. Today's dividend declaration is payable June 15, 2010, to shareholders of record as of May 28, 2010. Also today, Molson Coors Canada Inc. (TSX: TPX.B) (TSX: TPX.A), a wholly owned subsidiary of MCBC, declared a quarterly dividend on its Class A and Class B exchangeable shares of approximately CDN$0.28 (the Canadian equivalent of the dividend declared on the MCBC stock), payable June 15, 2010, to its Class A and Class B exchangeable shareholders of record as of May 28, 2010. This represents the same percentage increase as was declared for the MCBC common shares. “Given our strong free cash flow, we are pleased to be in a position to increase our cash returns to shareholders while continuing to invest in the business,” said Peter Swinburn, president and chief executive officer of Molson Coors Brewing Company. “This dividend declaration represents our third consecutive yearly increase and is consistent with our strategies and disciplined approach to delivering shareholder value.” About Molson Coors Molson Coors Brewing Company is a leading global brewer delivering extraordinary brands that delight the world's beer drinkers. It brews, markets and sells a portfolio of leading premium brands such as Coors Light, Molson Canadian, Carling, Blue Moon, and Keystone Light across North America, Europe and Asia. It operates in Canada through Molson Coors Canada; in the US through MillerCoors; and in the U.K. and Ireland through Molson Coors UK. For more information on Molson Coors Brewing Company and our portfolio of brands, visit the company's website, www.molsoncoors.com. About Molson Coors Canada Inc. Molson Coors Canada Inc. (MCCI) is a wholly owned subsidiary of Molson Coors Brewing Company. MCCI Class A and Class B exchangeable shares offer substantially the same economic and voting rights as the respective classes of common shares of MCBC, as described in MCBC's annual proxy and 10-K filings with the U.S. Securities and Exchange Commission. The trustee holder of the special Class A voting stock and the special Class B voting stock has the right to cast a number of votes equal to the number of then outstanding Class A exchangeable shares and Class B exchangeable shares, respectively.