MINNEAPOLIS–Polaris Industries Inc. (NYSE:PII) announced today that its Board of Directors has approved a 13 percent increase in the regular quarterly cash dividend, which represents the 16th consecutive year of Polaris increasing its dividend, effective with the 2011 first quarter dividend. The first quarter dividend of $0.45 will be payable on February 15, 2011 to shareholders of record at the close of business on February 1, 2011.
Scott Wine, Polaris’ CEO, commented, “We are proud of our 16 year history of increasing dividend payments as it reflects the ongoing strength of our balance sheet and cash flows in the Company and our confidence in our strategy to continue to deliver profitable growth for the Company in 2011 and beyond. Dividends remain one of the important ways we can enhance value to our shareholders.”
With annual 2009 sales of $1.566 billion, Polaris designs, engineers, manufactures and markets off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER™, snowmobiles and Victory motorcycles for recreational and utility use and has recently introduced a new on-road electric powered neighborhood vehicle.
Polaris is a recognized leader in the snowmobile industry; and one of the largest manufacturers of ORVs in the world. Victory motorcycles, established in 1998 and representing the first all-new American-made motorcycle from a major company in nearly 60 years are making in-roads into the cruiser and touring motorcycle marketplace. Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.
Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime from the Polaris homepage at www.polarisindustries.com.