Harley-Davidson, Inc. Increases Dividend and Announces Results of Annual Shareholder Meeting
6 May 1997
Harley-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.