Constellation Brands profit jumps 36.5 pct on strong beer sales
April 9 (Reuters) - Alcoholic beverage maker Constellation Brands Inc reported a 36.5 percent rise in quarterly profit, helped by strong demand for its beer brands such as Corona and Modelo, and said it would initiate a cash dividend.
The company will pay a quarterly dividend of 31 cents per share of Class A common stock and 28 cents per share of Class B common stock.
Net income attributable to Constellation Brands rose to $214.6 million, or $1.06 per share, in the fourth quarter ended Feb. 28, from $157.2 million, or 79 cents per share, a year earlier.
The company's net sales rose 5 percent to $1.36 billion. (Reporting by Ramkumar Iyer in Bengaluru; Editing by Maju Samuel)
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