Polaris Declares Increase in Cash Dividend

Rhea-AI Summary

Polaris Inc. (NYSE: PII) has approved a 2% increase in its regular quarterly cash dividend, raising it to $0.64 per share. This marks the 27th consecutive year of dividend increases, effective from the first quarter of 2022. The dividend will be payable on March 15, 2022, to shareholders of record as of March 1, 2022. CEO Mike Speetzen stated that the company is in a strong financial position and committed to delivering sustained value to shareholders despite supply chain challenges.

Positive

• 2% increase in quarterly cash dividend to $0.64 per share.
• 27th consecutive year of dividend increases, reflecting commitment to shareholders.
• Strong financial position despite ongoing supply chain challenges.

Negative

• None.

Board of Directors approves a 2% increase in the regular quarterly cash dividend;

27^th consecutive year of dividend increases

MINNEAPOLIS--(BUSINESS WIRE)-- 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 $0.64 per share. This increase represents the 27^th consecutive year of Polaris increasing its dividend effective with the 2022 first quarter dividend. The first quarter dividend will be payable on March 15, 2022 to shareholders of record at the close of business on March 1, 2022.

“As the global leader in powersports, we plan to build on our legacy of innovation, delivering category-defining vehicles and first-class services to meet the demand of new and returning customers, all while continuing to drive profitable growth,” commented Mike Speetzen, Polaris’ CEO. “Supported by our refreshed strategy and new strategic objectives, Polaris enters 2022 in a strong financial position despite the continued challenging supply chain backdrop, and we are well-positioned to deliver ongoing sustained value to our shareholders. To that end, we are raising our annual dividend for the 27^th consecutive year, building on our legacy as a Dividend Aristocrat and exemplifying our commitment 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 2021 sales of $8.2 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/20220127005731/en/

Investor Contact: Richard Edwards 763-542-0500

Source: Polaris Inc.

FAQ

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

The new dividend payout for Polaris Inc. (PII) is $0.64 per share.

When will the dividend for Polaris Inc. be paid?

The dividend for Polaris Inc. will be paid on March 15, 2022.

How many years has Polaris increased its dividend?

Polaris has increased its dividend for 27 consecutive years.

What is the record date for Polaris Inc.'s upcoming dividend?

The record date for Polaris Inc.'s upcoming dividend is March 1, 2022.

How does the dividend increase reflect Polaris Inc.'s business strategy?

The dividend increase reflects Polaris Inc.'s commitment to delivering sustained value to shareholders and a strong financial position.