Constellation Brands, the maker of Corona, declared a dividend of $1.03 a share on Oct. 6, payable Nov. 13 to holders of record at the close of business on Oct. 30. The brewer announced the payment alongside its fiscal second-quarter 2027 results, in an earnings release it filed with the Securities and Exchange Commission.
The release applies the $1.03 to Class A common stock. It does not mention a Class B dividend. Anyone who owns Constellation shares in an account that pays out on the schedule above can mark two dates: Oct. 30 sets who is on the books, and Nov. 13 is when the cash is paid.
The question for a shareholder is not the date, which is firm, but how the quarter that produced it looked, because a dividend is only as steady as the company behind it. The quarter ended Aug. 31 and was mixed: sales rose and beer volume slipped. That combination sits behind the $1.03 and is the part worth reading before relying on the payment.
The next date for the $1.03 payment is Oct. 30, when the record is set, and the cash follows on Nov. 13.
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The dividend calendar
Three dates frame the payment, and only two of them are in the earnings exhibit. The board declared the dividend on Oct. 6, 2026. The record date is Oct. 30, and the payable date is Nov. 13. Between them is the ex-dividend date, which decides whether a buyer who purchases shares near the cutoff gets this payment. The stock exchange sets that date, the release does not give it, and a broker’s dividend page will list it.
At $1.03 a quarter, the payment adds up to $4.12 over four quarters, if the board keeps the rate. The release states the current declaration only. It does not give a yearly dividend figure or any promise about the next one.
A quarter of sales growth and slower beer volume
Net sales for the quarter were $2,633.0 million, up 6%. Beer net sales were $2,473.6 million, up 5%. Beer depletions, which measure what distributors sell on to retailers and are the industry’s closest read on consumer demand, fell 0.6%. The release says in so many words that “depletions decreased 0.6%.”
Beer sales rising 5% while depletions slipped 0.6% leaves room for price, product mix or shipment timing to account for the gain. The release does not break out how much came from each. It does show that sell-through of the company’s beer, which includes Corona, was close to flat.
Profit: reported down, comparable up
Reported operating income was $805.0 million, down 8%. Comparable operating income, which removes items the company treats as one-offs, was $896.6 million, up 1%. The difference between the two is $91.6 million of adjustments.
Earnings per share went the other way. Reported EPS was $3.32, up 25%, and comparable EPS was $3.74, up 3%. The company reports both because the reported number carries gains and charges that move from quarter to quarter. The comparable figure is the one management guides to.
Tariff recoveries in the margin
The release also touches the tariff story that ran through October earnings. It says the Wine and Spirits segment’s margin improved, “driven by favorability in COGS from recoveries of U.S. tariffs,” and it describes lower tariff expenses in beer. It gives no dollar amount for either, so the size of the recoveries cannot be read from this document.
The full-year forecast behind the payout
Constellation reaffirmed its fiscal 2027 outlook for comparable EPS of $11.20 to $11.90. It updated reported EPS to $11.85 to $12.55 and net sales to $8,910 million to $9,090 million, and it guided free cash flow of $1.6 billion to $1.7 billion. Free cash flow is the money left after operating costs and capital spending, and it is the pool from which dividends and buybacks come.
The company has also been buying back stock. The release says it repurchased $530 million of shares year to date through September 2026, and the cash flow statement shows $454.7 million of treasury stock purchases for the six months ended Aug. 31. The first figure runs a month longer than the second, which is why they differ.
President and Chief Executive Nicholas Fink said in the release that “our portfolio of iconic brands continued to resonate with consumers.” Chief Financial Officer Garth Hankinson said “our strong cash flow generation enabled us to continue executing our disciplined and balanced capital allocation priorities.”
Making sure the Nov. 13 payment lands
The first step for a shareholder is to confirm which class of stock is held, since the release describes the $1.03 for Class A shares. A brokerage statement or the account’s holdings page shows the share class. Shares held in a retirement account or a dividend reinvestment plan receive the payment as cash or as additional shares, depending on the account’s settings.
The second is to check the record and payable dates against the account. Constellation’s own filing, linked above, lists them, and the company’s investor relations release of Oct. 6 carries the same results announcement. A missing payment is a question for the broker first and the company’s transfer agent second.
The anchor is the exhibit itself: $1.03 per Class A share, record Oct. 30, payable Nov. 13, declared Oct. 6, 2026.
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This article was produced with AI assistance and reviewed by The Financial Wire’s editorial team.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
