MINNEAPOLIS (October 23, 2008) — Polaris Industries Inc. (NYSE: PII) today announced the declaration of a regular quarterly $0.38 per share cash dividend payable on November 17, 2008 to shareholders of record at the close of business on November 3, 2008.
Scott Wine, Polaris’ Chief Executive Officer commented, “We are pleased to announce the declaration of our regular quarterly dividend of $0.38 per share, which we believe continues to underscore the strength of our business. Polaris' cash flow generation remains strong and our balance sheet is healthy. Although we realize the current macro-economic environment is challenging, we continue to make progress on our growth initiatives and as a result, raised our full year 2008 earnings per share guidance last week as announced in our third quarter earnings press release. Given the flexibility our strong financial position provides, we are able to adapt quickly to changes in the marketplace and remain dedicated to driving operational excellence and product innovation to maintain industry leading performance."
Additionally, today Polaris appointed Scott W. Wine, the Company’s recently appointed Chief Executive Officer, to the Company’s Board of Directors. With the appointment of Mr. Wine, the Polaris Board of Directors now has a total of ten members.
About Polaris
With annual 2007 sales of $1.8 billion, Polaris designs, engineers, manufactures and markets all-terrain vehicles, including the Polaris RANGER™ side-by-side vehicles (ATVs), snowmobiles and Victory motorcycles for recreational and utility use.
Polaris is a recognized leader in the snowmobile industry, one of the largest manufacturers of all-terrain recreational, utility and side-by-side vehicles in the world, and rapidly making impressive inroads into the motorcycle cruiser and touring marketplace under the Victory® brand. The Victory motorcycle division was established in 1998 representing the first all-new American-made motorcycle from a major company in nearly 60 years. Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII,” and the Company is included in the S&P Small-Cap 600 stock price index.
Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime from the Polaris homepage at www.polarisindustries.com.
