Harley-Davidson, Inc. Increases Dividend and Announces Results of Annual Shareholder Meeting
6 May 1997Harley-Davidson, Inc. Increases Dividend and Announces Results of Annual Shareholder Meeting
MILWAUKEE, May 5 -- Harley-Davidson, Inc. announced today that its Board of Directors approved a quarterly cash dividend of $0.07 per share, payable June 27, 1997 to shareholders of record June 16, 1997. This represents a 17 percent increase over prior quarterly dividends. "Traditionally we have increased our dividend in August, but we believe that the Annual Shareholder Meeting was an appropriate forum to make this type of announcement," said Rich Teerlink, chairman and chief executive officer of Harley-Davidson, Inc. "This dividend increase is a reflection of the Board of Director's confidence in the company's ability to successfully execute its plans." The company currently has 75.7 million shares of common stock outstanding. At the Annual Shareholder Meeting, it was also announced that all items to be voted upon by shareholders were approved: The re-election of Vaughn L. Beals, Jr. (chairman emeritus of Harley-Davidson, Inc.), Jeffrey L. Bleustein (president and chief operating officer of Harley-Davidson Motor Company), Donald A. James (vice chairman and chief executive officer of Fred Deeley Imports, Ltd.) and James A. Norling (president and general manager Messaging, Information and Media Sector and president Europe, Middle East and Africa of Motorola, Inc.) as members of the company's Board of Directors, with terms expiring at the company's 2000 Annual Meeting; and Ratification of Ernst & Young as the company's independent auditors for calendar year 1997. Harley-Davidson Motor Company, the only major U.S.-based motorcycle manufacturer, produces heavyweight motorcycles and a complete line of motorcycle parts, accessories, apparel, and general merchandise. Eaglemark Financial Services, Inc. provides wholesale and retail financing, insurance and credit card programs to Harley-Davidson dealers and customers and similar programs for other leisure products manufacturers. SOURCE Harley-Davidson, Inc.