While dealers were seeing the 2024 models at the Polaris Summer Dealer Meeting and the investors were being presented plans for the future in the concurrent Capital Markets Day session in Nashville, shareholders around the globe were being paid a dividend! Polaris Inc. (NYSE: PII) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.65 per share payable on September 15, 2023 to shareholders of record at the close of business on September 1, 2023.
Interesting to note that company employees comprise the 10th largest shareholder. Steve Menneto, President Polaris Off Road presented the positive Ranger/RZR/General numbers. North America off-road sales were up 17% year over year (11% 5-year CAGR). Dollar volume was $6,436M in 2022 sales. A pillar to market expansion for Polaris is partnering with its dealers, according to Menetto.
The global network has increased to 2,500 dealers, but they plan to roll out the “Dealer Advantage” program in the second half of 2023. To improve the network, Dealer Advantage calls for “establishing a best-in-class Global Dealer Channel where Polaris is recognized for an industry-leading customer experience with strong operators who can invest in their business and are aligned to Polaris’ strategic plan.”
Now that is a forward looking statement!