Board of Directors approves a 10% increase in the regular quarterly
cash dividend and a 4.0 million share increase in the share repurchase
authorization
MINNEAPOLIS--(BUSINESS WIRE)--
Polaris Industries Inc. (NYSE:PII) announced today that its Board of
Directors approved a 10 percent increase in the regular quarterly cash
dividend, raising the payout to $0.53 per share. This increase
represents the 20th consecutive year of Polaris increasing
its dividend effective with the 2015 first quarter dividend. The first
quarter dividend will be payable on March 16, 2015 to shareholders of
record at the close of business on March 2, 2015.
Polaris also announced that its Board of Directors has approved an
increase in the Company’s common stock repurchase authorization by 4.0
million shares. The additional share repurchase authorization, together
with the 1.1 million shares remaining available for repurchase under the
prior authorization, represents approximately eight percent of the
shares of Polaris common stock currently outstanding. The repurchase of
any or all such shares authorized for repurchase will be governed by
applicable SEC rules and dependent on management’s assessment of market
conditions.
"At Polaris, we emphasize profitable growth, as demonstrated by the
record sales and earnings we posted in 2014. Given the resultant strong
balance sheet, and our commitment to generating industry-leading
shareholder returns, for the 20th consecutive year our Board
of Directors’ decided to increase the dividend paid to shareholders.
Additionally, the Board has authorized an increase of our share
repurchase authorization. These actions highlight our excellent cash
flow generation and most importantly, our steadfast confidence in
Polaris’ future growth prospects," noted Scott Wine, Chairman and CEO of
Polaris.
About Polaris
Polaris is a recognized leader in the powersports industry with annual
2014 sales of $4.5 billion. Polaris designs, engineers, manufactures and
markets innovative, high quality off-road vehicles, including
all-terrain vehicles (ATVs) and the Polaris RANGER®
and RZR® side-by-side vehicles, snowmobiles,
motorcycles and on-road electric/hybrid powered vehicles.
Polaris is among the global sales leaders for both snowmobiles and
off-road vehicles and has established a presence in the heavyweight
cruiser and touring motorcycle market with the Victory®
and Indian Motorcycle® and Slingshot®
brands. Additionally, Polaris continues to invest in the global on-road
small electric/hybrid powered vehicle industry with Global Electric
Motorcars (GEM), Goupil Industrie SA, Aixam Mega S.A.S., and internally
developed vehicles. Polaris enhances the riding experience with a
complete line of Polaris Engineered Parts, Accessories and Apparel, Klim
branded apparel and ORV accessories under the Kolpin®,
Cycle Country® and Pro Armor® brands.
Polaris Industries Inc. trades on the New York Stock Exchange under the
symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock
price index.
Information about the complete line of Polaris products, apparel and
vehicle accessories are available from authorized Polaris dealers or
anytime at www.polaris.com.
Source: Polaris Industries Inc.