MINNEAPOLIS--(BUSINESS WIRE)--Polaris Industries Inc. (NYSE: PII) today announced that its Board of Directors approved a 64 percent increase in the regular quarterly cash dividend to $0.37 per share effective in the first quarter 2012.
Scott Wine, Polaris’ CEO, commented: “During calendar year 2011 our net income increased 55 percent on 33 percent sales growth. Given this strong performance, our solid long-term growth prospects, and our ongoing commitment to enhancing shareholder value, for the 17th consecutive year we are raising our dividend payout. This percentage increase is our largest since 1995, reflecting the momentum and potential of our business and the strength of our balance sheet.”
The $0.37 per share first quarter dividend will be payable on March 15, 2012 to shareholders of record at the close of business on March 1, 2012. In 2012, quarterly dividend record and payment dates will occur approximately one month later than in prior years due to scheduling of the Company’s 2012 Board of Directors’ meetings.
Polaris is a recognized leader in the powersports industry with annual 2011 sales of $2.7 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER® 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 brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid vehicle industry with Global Electric Motorcars (GEM) and Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
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 vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com