Recreation equipment maker Johnson Outdoors (JOUT -1.95%) announced yesterday that it was initiating a dividend of $0.075 per share on its Class A shares and $0.068 per share on its Class B shares.
Noting that Johnson Outdoors was happy to return a portion of its earnings to shareholders, CEO Helen Johnson-Leipold said, "Our consistently strong financial performance, disciplined balance sheet management and healthy cash position enables us to continue to make smart, strategic investments in future growth, and to simultaneously pay a dividend to our shareholders."
The board of directors said the quarterly dividends are payable on Nov. 7 to the holders of record at the close of business on Oct. 24. The regular dividend payment on the Class A shares equates to a $0.30-per-share annual dividend, yielding 1.2% based on the closing price today of Johnson Outdoors' stock, while the payment on the Class B shares equates to a $0.27-per-share annual dividend, yielding 1%.
