Winnebago Industries, Inc.’s Board of Directors approved a quarterly cash dividend of $0.27 per share payable Sept. 28, 2022, to common stockholders of record at the close of business Sept. 14, 2022.
The dividend declaration represents a 50%, or $0.09 per share, increase from the previous quarter. This increase follows the 50% increase the company announced lasMike t year.
“This significant dividend increase, and new share repurchase authorization reflect Winnebago Industries’ strong performance, our confidence in the business and our commitment to creating value for shareholders,” President and CEO Michael Happe said.
Winnebago Industries has paid a quarterly cash dividend to common stockholders of record the last 33 quarters.
In addition, the board approved a new share repurchase authorization of up to $350 million of the company’s common stock. The share repurchase authorization replaces the previous $200 million share repurchase program that was fully depleted. Winnebago Industries repurchased $80 million of share in the fourth quarter of fiscal 2022.
“These actions exemplify the optimism we have in our future performance driven by our belief in the sustained health of the outdoor industries we serve,” Happe said. “Our portfolio of premium outdoor lifestyle brands is well-positioned for continued growth and market-share accretion. With solid cash flow, enhanced liquidity with a recently expanded $350 million credit agreement, and a low net leverage ratio, we have a strong, healthy balance sheet, and we will continue to pursue organic and inorganic growth opportunities.”
