Logitech​ ​Shareholders​ ​Approve​ ​Proposals,​ ​Including​ ​Increased Dividend,​ At ​Annual​ ​General​ ​Meeting

Rhea-AI Summary

Logitech International announced a 10% increase in their annual dividend to approximately CHF 0.87 per share during the annual general meeting. The dividend payment is scheduled for September 22, 2021, with a record date of September 21, 2021. Shareholders approved all proposals, reflecting consistent performance and growth amid the pandemic. Logitech continues to showcase strong financial returns and a robust business strategy.

Positive

• 10% increase in annual dividend to approximately CHF 0.87 per share.
• All proposals were approved at the annual general meeting.
• Eighth consecutive year of growth, yielding solid shareholder returns.

Negative

• Potential risks associated with product offerings and competition.
• Uncertainties due to the COVID-19 pandemic impacting future performance.

Dividend up 10% year over year

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 during its annual general meeting (AGM) the Company’s shareholders approved a dividend of approximately CHF 0.87 per share* — an increase of approximately 10% compared to the Fiscal Year 2020 dividend. All other proposals were also approved.

Wendy Becker, Logitech’s chairperson of the board, said: “This year’s annual general meeting presented an opportunity to reflect on an unprecedented Fiscal Year 2021 for Logitech. While the impact of the pandemic on demand for our products and services might seem remarkable, more impressive was the strength and consistency of our performance. Our eighth straight year of growth resulted in another solid year of shareholder returns and demonstrated that our strategy is working, our capabilities are robust and growing, and we’re executing against our long-term growth trends. I look forward to another strong year for Logitech.”

Logitech expects the payment date for the dividend to be September 22, 2021 and the record date for the dividend to be September 21, 2021. The shares are expected to be traded ex-dividend on the SIX Swiss Exchange and the Nasdaq Global Select Market starting on September 20, 2021. Shareholders will find more information about the dividend on the Logitech corporate website at http://ir.logitech.com.

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, Ultimate Ears and Jaybird. 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 the Company’s strategy, capabilities, long-term growth trends and fiscal year 2022, and the timing of dividend payments, record date and ex-dividend trading date. The forward-looking statements in this 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 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 COVID-19 pandemic and its potential impact; if we do not fully realize our goals to lower our costs and improve our operating leverage; 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 policies and agreements and the imposition of tariffs that affect our products or operations and our ability to mitigate; risks associated with acquisitions; the effect of changes to our effective income tax rates. 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 Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2021 and our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2021, 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.

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.

* Based on the number of shares outstanding as of March 31, 2021. The actual number may change as of the record date.

(LOGIIR)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210908006081/en/

Nicole Noutsios

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 the dividend amount approved by Logitech for FY 2021?

Logitech approved a dividend of approximately CHF 0.87 per share, reflecting a 10% increase compared to the previous year.

When is the payment date for Logitech's dividend?

The payment date for the dividend is scheduled for September 22, 2021.

What was the growth trend for Logitech in FY 2021?

Logitech reported its eighth consecutive year of growth in FY 2021, leading to strong shareholder returns.

What is the record date for Logitech's dividend?

The record date for the dividend is September 21, 2021.

When will Logitech shares trade ex-dividend?

Logitech shares are expected to trade ex-dividend starting on September 20, 2021.