MINNEAPOLIS–(Small business WIRE)–Polaris Inc. (NYSE:PII) introduced these days that its Board of Administrators has declared a frequent quarterly cash dividend of $.63 per share payable on June 15, 2021 to shareholders of history at the near of small business on June 1, 2021. Polaris also introduced that its Board of Directors has licensed the repurchase of up to $1 billion of the Company’s superb common stock. This new repurchase authorization replaces the prior Board authorization.
Commenting on the inventory repurchase program, Mike Speetzen, interim CEO, stated, “Returning hard cash to our shareholders has been main to our balanced capital allocation system in the course of the many years, which has supported sizeable value generation for our buyers. The continuation of our quarterly cash dividend, coupled with the added share repurchase authorization we declared right now, proceeds to replicate administration and the Board’s assurance in our long-expression progress trajectory and fiscal toughness.”
Inventory repurchases will be produced from time to time in open market transactions at prevailing industry rates or by other suggests in accordance with federal securities regulations. The repurchase application has no expiration day and will be funded using the Firm’s funds on hand, income from operations, or readily available credit score facilities. As of March 31, 2021, the Corporation had income and hard cash equivalents of $432 million and 61 million shares of widespread inventory outstanding. The timing and sum of any shares repurchased will be established by the Firm’s administration dependent on its evaluation of current market conditions and other variables. There is no assurance as to the selection of shares that will be repurchased, and the repurchase program may well be extended, suspended or discontinued at any time with no prior recognize at Polaris’ discretion.
As the international leader in Powersports, Polaris Inc. (NYSE: PII) pioneers products breakthroughs and enriching ordeals and companies that have invited individuals to find the pleasure of remaining outdoor because our founding in 1954. With yearly 2020 income of $7.03 billion, Polaris’ large-good quality merchandise line-up consists of the Polaris RANGER®, RZR® and Polaris GENERAL™ aspect-by-facet off-street automobiles Sportsman® all-terrain off-highway vehicles Indian Motorbike® mid-size and heavyweight motorcycles Slingshot® moto-roadsters snowmobiles and deck, cruiser and pontoon boats, including marketplace-primary Bennington pontoons. Polaris boosts the riding encounter with sections, garments, and add-ons, alongside with a expanding aftermarket portfolio, including Transamerican Vehicle Parts. Polaris’ existence in adjacent marketplaces includes army and business off-road vehicles, quadricycles, and electric powered automobiles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com