USA: Molson Coors Brewing Company raises its dividend by 25%

The Molson Coors Brewing Company will increase by 25 per cent its quarterly dividends on Class A and B shares from 16 cents to 20 cents, the company announced, according to The Gazette, May 20.

The increase is a reflection of higher sales after the merger of Adolph Coors Co. and Molson Inc. in 2005. After-tax earnings have risen by 75 per cent since then, president and CEO Leo Kiely said.

The dividend increase will be payable on June 16 to shareholders on record as of May 30, and applies to exchangeable shares of Molson Coors Canada Inc.

22 May, 2008