RACINE, Wis., Sept. 29, 2017 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq: JOUT ), a global leader in innovative outdoor recreation equipment products, today announced approval by its Board of Directors of an increase in its quarterly cash dividend. A prior press release incorrectly noted the increase for Class A shares was from $.090 to $.010. The increased dividend for Class A shares should have been reported as an increase to $0.10 per Class A share. The increased dividend rate for Class B shares as well as the record date and payable date were properly reported in the prior press release, which follows.
Johnson Outdoors Inc. (Nasdaq: JOUT ), a global leader in innovative outdoor recreation equipment products, today announced approval by its Board of Directors of a quarterly cash dividend of $0.10 per Class A share and $0.0909 per Class B share – an 11.1% increase from the dividend rates declared in previous quarters.
“We have paid off our debt and continue to add to our healthy cash position. This dividend increase reflects our confidence in our business performance and strategic plans,” said David W. Johnson, Vice President and Chief Financial Officer.
The quarterly cash dividend is payable on October 27, 2017 to shareholders of record at the close of business on October 13, 2017.
A BOUT J OHNSON O UTDOORS I NC .
J OHNSON O UTDOORS is a leading global outdoor recreation company that inspires more people to experience the awe of the great outdoors with innovative, top-quality products. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors' iconic brands include: Old Town ® canoes and kayaks; Ocean Kayak ™ ; Carlisle ® paddles; Minn Kota ® fishing motors, batteries and anchors; Cannon ® downriggers; Humminbird ® marine electronics and charts; SCUBAPRO ® dive equipment; Jetboil ® outdoor cooking systems; and, Eureka! ® camping and hiking equipment.
Visit Johnson Outdoors at http://www.johnsonoutdoors.com
S AFE H ARBOR S TATEMENT
Certain matters discussed in this press release are “forward-looking statements,” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as "anticipate,'' "believe,'' “confident,” "could,'' "expect,'' "intend,'' "may,'' "planned,'' "potential,'' "should,'' "will,'' "would'' or the negative of those terms or other words of similar meaning. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms and focus on innovation; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in working capital management and cost-structure reductions; the Company’s ongoing success in meeting financial covenants in its credit agreements with its lenders; the Company’s success in integrating strategic acquisitions; the risk of future writedowns of goodwill or other long-lived assets; the ability of the Company's customers to meet payment obligations; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials used by the Company; the success of the Company’s suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; adverse weather conditions; and other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
At Johnson Outdoors Inc. David Johnson VP & Chief Financial Officer 262-631-6600
Patricia Penman VP – Global Marketing Services & Communication 262-631-6600
