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Garmin shareholders approve quarterly dividend through March 2023
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Garmin Ltd. announced a cash dividend of $2.92 per share at its annual shareholders' meeting, with four equal installments. The first installment of $0.73 is scheduled for June 30, 2022, with a record date of June 20, 2022. Subsequent installments are planned for September 30, 2022, December 30, 2022, and March 31, 2023, each with a record date set 15 days prior. The dividend amount is subject to adjustment if the Swiss Franc depreciates significantly against the USD.
Positive
Dividend of $2.92 per share signals company confidence in financial health.
Quarterly installments provide regular income to shareholders.
Negative
Dividend subject to adjustment if Swiss Franc weakens over 35% against USD.
Company announces record date and payment date for June 2022 dividend installment
SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--
At Garmin Ltd.’s 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 $2.92 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 dividend installments as follows:
Dividend Date
Record Date
$s per share
June 30, 2022
June 20, 2022
$0.73
September 30, 2022
September 15, 2022
$0.73
December 30, 2022
December 15, 2022
$0.73
March 31, 2023
March 15, 2023
$0.73
About Garmin Ltd:
Engineered on the inside for life on the outside, Garmin products have revolutionized life for runners, cyclists, swimmers and athletes of all levels and abilities. Committed to developing technology that helps people stay active and elevate performance, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Garmin Ltd. (NYSE: GRMN) is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. For more information, visit Garmin's virtual Newsroom, email our press team, or follow us on LinkedIn.
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 the Annual Report on Form 10-K for the year ended December 25, 2021 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s 2021 Form 10-K can be downloaded fromhttps://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.
