Harley-Davidson Announces Dividend and Shareholder Meeting Results
4 May 1998Harley-Davidson, Inc. Increases Dividend and Announces Results of Annual Shareholder Meeting
MILWAUKEE, May 4 -- Harley-Davidson, Inc. announced today that its Board of Directors approved a quarterly cash dividend of $0.04 per share, payable June 26, 1998 to shareholders of record June 16, 1998. This represents a 14 percent increase over prior quarterly dividends, and is the sixth consecutive annual increase. The Company currently has 152.0 million shares of common stock outstanding. At its Annual Shareholder Meeting, the Company also announced that all items to be voted upon by shareholders were approved: the re-election of Barry K. Allen (executive vice president of Ameritech Corporation), Richard I. Beattie (partner and chairman of the executive committee of Simpson Thatcher & Bartlett) and Richard G. LeFauve (president of GM University and senior vice president of General Motors Corporation) as members of the Company's Board of Directors, with terms expiring at the Company's 2001 Annual Meeting, and; ratification of Ernst & Young as the Company's independent auditors for calendar year 1998. In accordance with the Company's mandatory retirement policy for members of the Board of Directors, Vaughn L. Beals, Jr. retired from the Board. According to Jeffrey L. Bleustein, Harley-Davidson, Inc. president and chief executive officer, "Vaughn's contributions are immeasurable. His courage and leadership ensured the Company's survival during the 1980's and established the foundation for the success we enjoy today." Mr. Beals joined AMF/Harley-Davidson in 1975. He led the management buy-out of Harley-Davidson from AMF in 1981 and subsequently guided the Company back to public ownership in 1986. Under his leadership as chief executive officer from 1981 to 1989, Harley-Davidson revitalized its manufacturing capabilities and became a recognized leader in the motorcycle industry. 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. Buell Motorcycle Company produces sport and sport-touring motorcycles. 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.