Arctic Cat Inc. announced that its board of directors approved raising the quarterly cash dividend to shareholders by 25 percent to $0.125 per share of common stock.
The dividend is payable on or about June 13, 2014, to shareholders of record as of the close of business on May 30, 2014. Arctic Cat currently has approximately 12.9 million common shares outstanding.
“The dividend increase reflects our confidence in the business and our continuing commitment to enhance shareholder value,” said Claude Jordan, Arctic Cat’s chairman and chief executive officer.
The increase will raise Arctic Cat’s annual dividend payout from $0.40 per share to $0.50 per share for the fiscal year ending March 31, 2015.
About Arctic Cat
Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs), side-by-sides and snowmobiles under the Arctic Catbrand name, as well as related parts, garments and accessories.