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Corby Spirit and Wine Reports Second Quarter Results and Quarterly Dividend
Corby Spirit and Wine Reports Second Quarter Results and Quarterly Dividend Can...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Spirit and Wine Reports Second Quarter Results and Quarterly Dividend\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Feb. 11, 2021\n \n /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A) (TSX: CSW.B) today announced financial results for its fiscal 2021 second quarter ended\n \n December 31, 2020\n \n .\n \n \n The Corby Board of Directors today also declared a dividend of\n \n $0.21\n \n per share payable on\n \n March 5, 2021\n \n on the Voting Class A Common Shares and Non-Voting Class B Common Shares of the Company to shareholders of record as at the close of business on\n \n February 25, 2021\n \n . Despite the COVID-19 pandemic and an uncertain economic outlook, given the Company's performance and the strong cash position, the Board of Directors decided to exercise their discretion to declare a quarterly dividend aligned to Corby's dividend policy. The policy provides that, subject to business conditions and opportunities and appropriate adjustment for extraordinary events, regular dividends will be paid quarterly, on the basis of an annual amount equal to the greater of 90% of net earnings per share in the preceding fiscal year ended\n \n June 30\n \n , and\n \n $0.60\n \n per share.\n \n \n Consumer demand has remained resilient through the second quarter ended\n \n December 31, 2020\n \n with gains in the retail channel continuing to offset the severe interruptions in the on-premise and travel retail channels. Some brands continue to be  more negatively impacted by effects of COVID-19 pandemic restrictions, while others were boosted by new opportunities in at-home consumption occasions and in ecommerce. Customers ordered strongly in the previous quarter to build stock ahead of key trading periods to avoid supply chain disruptions in a volatile pandemic impacted environment.\n \n \n Following the unusually high shipments in the first quarter that resulted from liquor boards' stock-building, shipments of both Corby owned and Pernod Ricard br...