Clarus Announces $0.025 Per Share Quarterly Dividend, Reinstates Cash Payment
Clarus Corporation (NASDAQ: CLAR) has reinstated its quarterly cash dividend of $0.025 per share, payable on November 20, 2020, to shareholders of record as of November 9, 2020. This decision comes as the company experiences recovery from the COVID-19 pandemic, marking a return to regular cash payments after previously opting for stock dividends. Executive Chairman Warren Kanders emphasized the company's progress in stabilizing its diversified portfolio of brands while focusing on rewarding long-term shareholders.
- Reinstated quarterly cash dividend of $0.025 per share, signaling recovery.
- Dividend payment scheduled for November 20, 2020, reinforces financial stability.
- Company has stabilized operations across diversified brands.
- None.
SALT LAKE CITY, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) (“Clarus” and/or the “Company”), a company focused on the outdoor and consumer industries, announced that its board of directors has reinstated the Company’s quarterly cash dividend of
The cash dividend will be paid on November 20, 2020, to all stockholders of record as of November 9, 2020.
“As Clarus continues to recover from the height of the COVID-19 pandemic, we are returning to the cash payment of our regular quarterly dividend initiated over two years ago,” said Warren Kanders, Executive Chairman of Clarus. “When we temporarily replaced the cash dividend with a stock dividend earlier this year, we felt it was prudent during the unprecedented times that were upon us. Since then, we have made progress stabilizing the business across our diversified portfolio of brands and we look forward to continue rewarding our long-term shareholders.”
About Clarus Corporation
Headquartered in Salt Lake City, Utah, Clarus Corporation is a leading developer, manufacturer and distributor of best-in class outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport markets. With a strong reputation for innovation, style, quality, design, safety and durability, Clarus’ portfolio of iconic brands includes Black Diamond®, Sierra®, Barnes®, PIEPS®, and SKINourishment® sold through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally. For additional information, please visit www.claruscorp.com or the brand websites at www.blackdiamondequipment.com, www.sierrabullets.com, www.barnesbullets.com, or www.pieps.com.
Forward‐Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to the manufacture and sale of bullets and ammunition by our Sierra/Barnes segment, and the possession and use of firearms and ammunition by our customers; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and the Company’s ability to maintain a quarterly dividend. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact:
John C. Walbrecht
President
Tel 1‐801‐993‐1344
john.walbrecht@claruscorp.com
or
Aaron J. Kuehne
Chief Administrative Officer and
Chief Financial Officer
Tel 1‐801‐993‐1364
aaron.kuehne@claruscorp.com
Investor Relations Contact:
Gateway Investor Relations
Cody Slach
Tel 1‐949‐574‐3860
CLAR@gatewayir.com
FAQ
What is the dividend amount for Clarus Corporation?
When will the Clarus dividend be paid?
Who is eligible for the Clarus dividend?
Why did Clarus reinstate its cash dividend?
