Molson Coors Brewing Company (NYSE: TAP) announced today that its Board of Directors has approved a 20% increase in the quarterly dividend rate on its Class A and Class B common shares from US$0.20 per share to US$0.24 per share, payable June 15, 2009, to shareholders of record on May 29, 2009. The quarterly dividend increase raises the annual dividend rate from US$0.80 per share to US$0.96 per share.
Molson Coors Brewing Company, through its subsidiaries, brews, markets, sells, and distributes beer and other beverages. It offers its products under the Coors Light, Canadian, Molson Dry, Export, Creemore, Rickard's Red and other Rickard's brands, Carling, and Pilsner brand names in Canada; the Coors Light and Miller Lite, Coors Banquet, Miller Genuine Draft, MGD 64, Miller Chill, Sparks, Miller High Life, Keystone Light, Icehouse, Mickey's, Milwaukee's Best Light, Old English 800, Blue Moon brands, Henry Weinhard's, George Killian's Irish Red, the Leinenkugel's brands, the Molson brands, Foster's, Peroni Nastro Azzurro, Pilsner Urquell, Coors Non-Alcoholic, and Sharp's brand names in the United States; and the Carling, C2, Coors Light, Worthington's, Caffrey's, Kasteel Cru, as well as Grolsch brand names in the United Kingdom.
The company also brews or distributes Amstel Light, Heineken and Murphy's, Asahi and Asahi Select, Miller Lite, Miller Genuine Draft, Milwaukee's Best, Milwaukee's Best Dry, Foster's, and Tiger brands under license. Molson Coors distributes its products through a three-tier system consisting of manufacturers, distributors, and retailers in the United States, as well as through a two-tier system consisting of manufacturers and retailers in the United Kingdom.
It has a joint venture with Grupo Modelo, S.A.B. de C.V. to import, distribute, and market the Modelo beer brand portfolio, including the Corona, Coronita, Negra Modelo, and Pacifico brands in Canada; and with Royal Grolsch N.V. to market Grolsch branded beer in the United Kingdom and the Republic of Ireland. The company was formerly known as Adolph Coors Company and changed its name to Molson Coors Brewing Company in February 2005. Molson Coors was founded in 1873 and is headquartered in Denver, Colorado.
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