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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.