Logitech Announces Proposed Fiscal Year 2022 Dividend

Rhea-AI Summary

Logitech International (SIX: LOGN, Nasdaq: LOGI) announced a proposed cash dividend for Fiscal Year 2022, reflecting a 10% increase to approximately CHF 0.96 per share, pending shareholder approval at the Annual General Meeting in September 2022. The company returned over $0.5 billion to shareholders through dividends and share repurchases in FY 2022, underscoring its commitment to shareholder returns.

Positive

• Proposed cash dividend of CHF 0.96 per share indicates a 10% increase year-over-year.
• More than $0.5 billion returned to shareholders in FY 2022 via dividends and share repurchases.

Negative

• None.

LAUSANNE, Switzerland & NEWARK, Calif.--(BUSINESS WIRE)-- SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that the Company’s board of directors has approved a proposal for a Fiscal Year 2022 cash dividend, which, if approved by shareholders, would be a 10 percent annual increase per share versus last year’s dividend, or approximately CHF 0.96 per share. This proposal will be voted on by Logitech’s shareholders at the Company’s Annual General Meeting in September 2022.

Logitech returned more than $0.5 billion to shareholders in FY 2022 through dividends and share repurchases. That record amount and the increased FY 2022 cash dividend proposal demonstrate the Company’s continued commitment to consistently return cash to shareholders.

About Logitech

Logitech helps all people pursue their passions by designing experiences so everyone can create, achieve, and enjoy more. Logitech designs and creates products that bring people together through computing, gaming, video, streaming and creating, and music. Brands of Logitech include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones and Ultimate Ears. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding: our proposed dividend for fiscal year 2022, which is subject to shareholder approval at our 2022 annual general meeting. The forward-looking statements in this press release involve risks and uncertainties that could cause Logitech’s actual results and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of demand variability, supply shortages and other supply chain challenges; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if we are not able to maintain and enhance our brands; if our products and marketing strategies fail to separate our products from competitors’ products; the impact of global events, such as COVID-19 pandemic and Russia’s military operations in Ukraine, and any associated economic downturn and political instability; changes in inflation levels and in the Federal Reserve's monetary policy; if we do not successfully execute on strategic acquisitions and investments; if we do not efficiently manage our spending; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates; changes in trade regulations, policies and agreements and the imposition of tariffs that affect our products or operations and our ability to mitigate; risks associated with acquisitions; and risks associated with the payment of dividends and the increase our dividend payments. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech’s periodic filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2021, our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2021, and our subsequent reports filed with the SEC, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.

Note that unless noted otherwise, comparisons are year over year.

Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.

(LOGIIR)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220516006055/en/

Editorial Contacts:

Nate Melihercik, Head of Global Investor Relations - lir@logitech.com

Nicole Kenyon, Head of Global Corporate & Employee Communications - USA +1 (510) 988-8553

Ben Starkie, Corporate Communications - Europe +41 (0) 79-292-3499

Source: Logitech International

FAQ

What is Logitech's proposed dividend for FY 2022?

Logitech proposed a cash dividend of approximately CHF 0.96 per share for FY 2022, which is a 10% increase from the previous year.

When will Logitech's dividend proposal be voted on?

The dividend proposal will be voted on by Logitech's shareholders at the Annual General Meeting in September 2022.

How much has Logitech returned to shareholders in FY 2022?

Logitech returned over $0.5 billion to shareholders in FY 2022 through dividends and share repurchases.

What is the stock symbol for Logitech?

Logitech is listed under the stock symbols SIX: LOGN and Nasdaq: LOGI.