By Colin Kellaher
Garmin's board plans to recommend a 20% increase in the navigation company's dividend.
Garmin on Wednesday said it will ask shareholders to approve an annual payout of $3.60, or 90 cents on a quarterly basis, at the annual meeting slated for June 6, up from the current $3.00, or 75 cents a quarter.
The proposed new dividend would offer an annual yield of about 1.68% based on Tuesday's closing price of $214.78 for the Switzerland-based company, up from 1.4%.
The increase would be effective with the dividend payable in June, Garmin said.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 19, 2025 07:40 ET (12:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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