Boston, MA 09/25/2014 (wallstreetpr) – A global manufacturer of branded seasonal, outdoor recreation products, Johnson Outdoors Inc. (NASDAQ:JOUT) disclosed that its Board of Directors has recommended a quarterly cash dividend of 7.5 cents a share for Class A Stock and 6.8 cents a share for Class B stock. The company was not paying a dividend regularly. As a result, there was no average growth rate for the three-year period.
Dividend Payment
Johnson Outdoors Inc. (NASDAQ:JOUT) has fixed October 9 as the record date for determining the names of shareholders to be eligible to receive its quarterly cash dividend, its statement revealed. It has also set October 23 for paying a dividend to all the eligible shareholders. The stock would become ex-dividend from October 7.
The dividend rate works out to 30 cents a share on an annualized basis. Its current dividend rate fetches yield of 1.10% while the projected dividend yield for the ten-year period also remained same at 1.10%. The current dividend payout ratio worked out to 60%.
Since the company was not consistent, the dividend payout ratio could not be compared with both the three-year average, as well as, five-year average.
No Growth
Johnson Outdoors Inc. (NASDAQ:JOUT) has been paying a dividend since 2007 but has never been consistent in rewarding the shareholders. The company started paying a dividend of 5.5 cents a share in July 2007. It kept the same dividend for six quarters till October 2008, a Nasdaq data indicated.
For three years, the company has not paid any dividend, i.e. between November 2008 and September 2013. While the financial crisis has impacted the economy in 2009 and 2010, the economy did improve in the later years. However, the company seemed to have not benefited by the trend.
Therefore, it returned to dividend track only in October 2013 with an increased payout of 7.5 cents a share and paid the same in the last four quarter. The latest announcement was the fifth straight quarter. Therefore, there was no average dividend growth rate for both the three-year and five-year periods.
