Garmin® shareholders approve quarterly dividend through March 2022 and Garmin announces record date and payment date for June 2021 dividend installment

Rhea-AI Summary

Garmin Ltd. (NASDAQ:GRMN) announced at its annual shareholders’ meeting the approval for a cash dividend of $2.68 per share, payable in four quarterly installments. The first installment of $0.67 will be paid on June 30, 2021, with a record date of June 15, 2021. Subsequent dividends are scheduled for September 30, December 31, and March 31 of 2022, maintaining the same dividend amount. Shareholders are advised that the dividend is subject to adjustments if the Swiss Franc weakens significantly against the USD.

Positive

• Approval of a cash dividend of $2.68 per share, indicating strong financial health.
• Consistent dividend payments planned for shareholders across four quarters.

Negative

• Dividend subject to adjustment if the Swiss Franc weakens more than 35% against USD.

At Garmin Ltd.’s (NASDAQ:GRMN) annual shareholders’ meeting held today, approval was received from the shareholders in accordance with Swiss corporate law for a cash dividend in the amount of $2.68 per share (subject to adjustment in the event that the Swiss Franc weakens more than 35% relative to the USD), payable in four equal installments. The Board has determined that the June installment of the dividend will be paid as indicated below and currently anticipates the scheduling of the remaining quarterly dividends as follows:

Dividend Date			Record Date			$s per share
June 30, 2021			June 15, 2021			$0.67
September 30, 2021			September 15, 2021			$0.67
December 31, 2021			December 15, 2021			$0.67
March 31, 2022			March 15, 2022			$0.67

About Garmin Ltd.:

Engineered on the inside for life on the outside, Garmin products have revolutionized the aviation, automotive, fitness, marine and outdoor lifestyles. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at media.relations@garmin.com, or connect with us at facebook.com/garmin, twitter.com/garminnews, instagram.com/garmin or youtube.com/garmin.

Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd.

Notice on Forward-Looking Statements:

This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in both the Annual Report on Form 10-K for the year ended December 26, 2020 and the Quarterly Report on Form 10-Q for the quarter ended March 27, 2021 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s 2020 Form 10-K and the Q1 2021 Form 10-Q can be downloaded from https://www.garmin.com/en-US/investors/sec/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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FAQ

What are the details of Garmin's dividend payment for 2021?

Garmin's dividend payment for 2021 is $2.68 per share, payable in four installments of $0.67 each on June 30, September 30, December 31, and March 31, with record dates set for June 15, September 15, December 15, and March 15.

When will Garmin announce the next dividend payment?

Garmin has announced that the next dividend payment will be on September 30, 2021.

Is Garmin's dividend sustainable?

Garmin's dividend is subject to adjustment based on currency fluctuations, specifically if the Swiss Franc weakens more than 35% against the USD.

What is the dividend payout frequency for Garmin?

Garmin pays dividends quarterly.