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Brown-Forman hikes dividend by 9 percent

NEW YORK (AP) -- Liquor company Brown-Forman Corp. said Thursday that it increased its quarterly dividend by 9 percent to 25.5 cents per share, citing the company's growth prospects.

The dividend will be payable Dec. 26 to stockholders of record on Dec. 5.

The company, based in Louisville, Ky., makes brands including Jack Daniel's, Southern Comfort and Canadian Mist.

Shares of Brown-Forman gained 41 cents to $64.59 in afternoon trading.