Johnson Outdoors Inc.’s board of directors declared the Wisconsin company’s first quarterly dividend payment since suspending them in 2008.
The board declared a 7.5 cent quarterly dividend and said it anticipates a total annual payout of 30 cents per share on the company’s outstanding shares of Class A common stock. An estimated total annual payout of 27 cents per share of the company’s outstanding shares of Class B common stock is also anticipated, payable through a quarterly cash dividend of $0.068 per Class B share. The first quarterly cash dividend is payable on November 7, 2013 to shareholders of record at the close of business on October 24, 2013.
Johnson Outdoors declared its first quarterly dividend as a public company in 2007 only to suspend it a year later when the financial crisis struck.
“Over the past five years we have outpaced our markets and competitors, steadily growing profits faster than sales and enhancing the value of Johnson Outdoors for investors,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “Our consistently strong financial performance, disciplined balance sheet management and healthy cash position enables us to continue to make smart, strategic investments in future growth, and to simultaneously pay a dividend to our shareholders. We are very pleased to return a portion of earnings to shareholders as we drive forward with our plans for continued success in the future.”
While the company intends to pay regular quarterly cash dividends for the foreseeable future, the declaration and payment of future dividends will be subject to determination by the Board of Directors each quarter after its review of the company’s financial performance and other relevant factors.
“We evaluated a number of ways to further enhance value for shareholders, with a clear focus on our ability to do so consistently going forward,” said David W. Johnson, vice president and CFO. “We believe we are on a clear path of sustained profitable growth, with the strength and capabilities to deliver strong financial performance now and in the future.”
Johnson Outdoors designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Gear. Johnson Outdoors’ familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Carlisle paddles; Extrasport personal flotation devices; Minn Kota motors; Cannon downriggers; Humminbird marine electronics; LakeMaster electronic charts; Scubapro and Subgear dive equipment; Silva compasses; Jetboil outdoor cooking systems; and Eureka! camping and hiking equipment.