MINNEAPOLIS--(BUSINESS WIRE)--Polaris Industries Inc. (NYSE:PII) today announced that its Board of Directors approved a 14% percent increase in the 2014 regular quarterly cash dividend that raises the payout to $0.48 per share. The first quarter dividend will be payable on March 17, 2014 to shareholders of record at the close of business on March 3, 2014.
"This dividend increase demonstrates the fact that returning value to our shareholders remains one of our top priorities and highlights our confidence in the future growth prospects of Polaris," noted Scott Wine, Chairman and CEO of Polaris. "We have now increased our dividend each year over the past nineteen years, which is a testament to the consistent long-term financial management and discipline of our world-class team. Our relentless focus on business execution and balanced approach to capital allocation allows us to enhance returns to shareholders while maintaining the financial strength and flexibility to pursue value-creating opportunities and invest in innovation for future growth.”
Polaris is a recognized leader in the powersports industry with annual 2013 sales of $3.8 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 brands. Additionally, Polaris continues to invest in the global on-road small 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 and KLIM branded apparel and Polaris accessories and parts.
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.