Polaris Declares Increase in Cash Dividend

Rhea-AI Summary

Polaris Inc. (NYSE: PII) has announced a 2% increase in its quarterly cash dividend, raising it to $0.63 per share. This marks the 26th consecutive year of dividend increases. The first quarter dividend is payable on March 15, 2021, with a record date of March 1, 2021. The company reported generating over $1 billion in cash flow for 2020, asserting confidence in its strong financial position despite global challenges. Polaris remains a Dividend Aristocrat, committed to delivering consistent capital returns to shareholders.

Positive

• Dividend increased to $0.63 per share, signaling strong cash flow management.
• 26th consecutive year of dividend increases, reinforcing shareholder confidence.
• Generated over $1 billion in cash flow in 2020, showcasing operational excellence.

Negative

• None.

Polaris Inc. (NYSE:PII) announced today that its Board of Directors approved a 2% percent increase in the regular quarterly cash dividend, raising the payout to $0.63 per share. This increase represents the 26^th consecutive year of Polaris increasing its dividend effective with the 2021 first quarter dividend. The first quarter dividend will be payable on March 15, 2021 to shareholders of record at the close of business on March 1, 2021.

“Over the last year, the Polaris team once again proved that they are the best in Powersports. Rooted in our unwavering commitment to our customers, we continued to deliver innovative products, while executing on our operational excellence initiatives, to generate more than $1 billion in cash flow in 2020,” commented Mike Speetzen, Polaris’ Interim CEO. “As we look to 2021, our financial position remains strong, despite the unprecedented times globally. As a result, we are raising our annual dividend for the 26th consecutive year, proudly retaining our status as a Dividend Aristocrat and keeping front and center the priority of delivering consistent capital returns to our shareholders.”

About Polaris

As the global leader in Powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With annual 2020 sales of $7.03 billion, Polaris’ high-quality product line-up includes the Polaris RANGER^®, RZR^® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman^® all-terrain off-road vehicles; Indian Motorcycle^® mid-size and heavyweight motorcycles; Slingshot^® moto-roadsters; snowmobiles; and deck, cruiser and pontoon boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments, and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets includes military and commercial off-road vehicles, quadricycles, and electric vehicles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210128006116/en/

FAQ

What is the new dividend amount for Polaris Inc. (PII)?

Polaris Inc. has increased its quarterly dividend to $0.63 per share.

When will the new dividend be paid?

The new dividend will be payable on March 15, 2021.

What is the record date for the upcoming dividend of PII?

The record date for the upcoming dividend is March 1, 2021.

How many years has Polaris Inc. raised its dividend?

Polaris Inc. has raised its dividend for 26 consecutive years.

How much cash flow did Polaris generate in 2020?

Polaris generated over $1 billion in cash flow in 2020.