Weber Declares Quarterly Cash Dividend

Rhea-AI Summary

Weber Inc. (NYSE: WEBR) has declared a cash dividend of $0.04 per share, scheduled for payment on December 17, 2021. This dividend is aimed at enhancing shareholder value and reflects the company's strong financial performance and robust free cash flow. CEO Chris Scherzinger emphasized confidence in the business's growth prospects. The company, headquartered in Palatine, Ill., is renowned for its outdoor cooking products and has recently acquired June Life Inc. to advance its digital technology initiatives.

Positive

• Initiation of a cash dividend of $0.04 per share, reflecting commitment to shareholder value.
• Strong free cash flow enables return of capital to shareholders while continuing investments for long-term growth.

Negative

• None.

PALATINE, Ill.--(BUSINESS WIRE)-- Weber Inc. (NYSE: WEBR), the global leader in outdoor cooking innovation, technology, and products, announced today the Weber Board of Directors declared a cash dividend of $0.04 per share, payable in cash, on December 17, 2021, to holders of its Class A Common Stock as of the close of business on December 7, 2021.

“The initiation of a common stock dividend reflects our commitment to delivering value to our shareholders and the confidence we have in the performance and prospects of our global business,” said Chris Scherzinger, Chief Executive Officer of Weber.

“Our ability to generate strong free cash flow allows us to return capital to shareholders while continuing to invest in the business to drive long-term growth,” said Bill Horton, Chief Financial Officer of Weber. “We are focused on maintaining our solid financial track record, while driving forward our strategic value-creation initiatives.”

ABOUT WEBER INC.

Weber Inc., headquartered in Palatine, Ill., is the world’s leading barbecue brand. The company’s founder George Stephen, Sr., established the outdoor cooking category when he invented the original charcoal grill nearly 70 years ago. Weber offers a comprehensive, innovative product portfolio, including charcoal, gas, pellet and electric grills, smokers, and accessories designed to help outdoor cooking enthusiasts discover what’s possible. Earlier this year, the company acquired June Life Inc., a smart appliance and technology company, to accelerate the development of its Weber Connect™ technology and digital products. Weber offers its barbecue grills and accessories, services, and experiences to a passionate community of millions across 78 countries.

Weber Connect™ is a trademark of Weber-Stephen Products LLC.

FORWARD-LOOKING STATEMENTS

This press release contains various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent Weber’s expectations or beliefs concerning future events. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events.

There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those factors discussed in the section titled “Risk Factors” in our Registration Statement (Registration No. 333-257824) on Form S-1.

Our future results could be affected by a variety of other factors, including uncertainty of the magnitude, duration, geographic reach, impact on the global economy and current and potential travel restrictions of the COVID-19 outbreak, the current, and uncertain future, impact of the COVID-19 outbreak on our business, growth, reputation, prospects, financial condition, operating results (including components of our financial results), and cash flows and liquidity, risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects, the ability to realize the anticipated benefits and synergies from business acquisitions in the amounts and at the times expected, the impact of competitive conditions, the effectiveness of pricing, advertising, and promotional programs; the success of innovation, renovation and new product introductions; the recoverability of the carrying value of goodwill and other intangibles, the success of productivity improvements and business transitions, commodity and energy prices, transportation costs, labor costs, disruptions or inefficiencies in supply chain, the availability of and interest rates on short-term and long-term financing, the levels of spending on systems initiatives, properties, business opportunities, integration of acquired businesses, and other general and administrative costs, changes in consumer behavior and preferences, the effect of U.S. and foreign economic conditions on items such as interest rates, statutory tax rates, currency conversion and availability, legal and regulatory factors including the impact of any product recalls; and business disruption or other losses from war, pandemic, terrorist acts or political unrest.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103006274/en/

INVESTOR RELATIONS:

investors@weber.com

Brian Eichenlaub, Vice President, Investor Relations & Treasurer

MEDIA:

media@weber.com

Kristina Peterson-Lohman, Senior Director, Global Communications

Source: Weber Inc.

FAQ

What is the dividend amount declared by Weber Inc.?

Weber Inc. declared a cash dividend of $0.04 per share.

When will Weber Inc. pay the dividend?

The dividend will be paid on December 17, 2021.

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

The record date for the dividend is December 7, 2021.

How does Weber's dividend reflect its financial performance?

The initiation of the dividend indicates strong financial performance and confidence in future growth.

What recent acquisition did Weber Inc. make to enhance its business?

Weber Inc. acquired June Life Inc. to boost its digital technology initiatives.