Garmin shareholders approve quarterly dividend through March 2025

Rhea-AI Summary

Garmin shareholders have approved a quarterly cash dividend of $3.00 per share through March 2025. The dividend will be paid in four equal installments of $0.75 each. The schedule for the payments is as follows: June 28, 2024, September 27, 2024, December 27, 2024, and March 28, 2025. The respective record dates are June 17, 2024, September 13, 2024, December 13, 2024, and March 14, 2025. This decision was made at Garmin's annual shareholders' meeting in Schaffhausen, Switzerland on June 7, 2024.

Positive

• Quarterly cash dividend of $3.00 per share approved through March 2025.
• Dividends provide a steady income stream to shareholders, potentially attracting more investors.
• Four equal installments ensure predictable cash flow for investors.
• Record dates and payment dates are clearly outlined, providing transparency.

Negative

• Commitment to dividend payments can strain company's cash reserves.
• No mention of revenue growth or business expansion, which could be a concern for growth-focused investors.
• Potential risk if company performance declines, affecting future dividend sustainability.

Company announces record date and payment date for June 2024 dividend installment

SCHAFFHAUSEN, Switzerland, June 7, 2024 /PRNewswire/ -- 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 $3.00 per share, 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 Payment Date	Record Date	Dividend Per Share
June 28, 2024	June 17, 2024	$0.75
September 27, 2024	September 13 2024	$0.75
December 27, 2024	December 13, 2024	$0.75
March 28, 2025	March 14, 2025	$0.75

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 30, 2023 filed by Garmin with the Securities and Exchange Commission (Commission file number 001-41118).  A copy of Garmin's 2023 Form 10-K 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.

Investor Relations Contact:	Media Relations Contact:
Teri Seck	Krista Klaus
913/397-8200	913/397-8200
investor.relations@garmin.com	media.relations@garmin.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/garmin-shareholders-approve-quarterly-dividend-through-march-2025-302167260.html

SOURCE Garmin Ltd.

FAQ

What is the approved dividend for Garmin shareholders in 2024?

Garmin shareholders approved a quarterly cash dividend of $3.00 per share through March 2025.

When is the first payment date for Garmin's dividend installment in 2024?

The first payment date for Garmin's dividend installment in 2024 is June 28, 2024.

What is the record date for Garmin's June 2024 dividend?

The record date for Garmin's June 2024 dividend is June 17, 2024.

How much is each dividend installment for Garmin in 2024?

Each dividend installment for Garmin in 2024 is $0.75 per share.

When will Garmin's last dividend installment be paid in 2025?

Garmin's last dividend installment will be paid on March 28, 2025.