Johnson Outdoors (JOUT) will raise its quarterly dividend by no less than 42.9 percent to 30 cents per share in 2021. This follows a dividend hike of 23.5 percent to 21 cents per share by JOUT in 2020. The outdoor recreation products maker has now boosted its dividend 7 years in a row.
The next JOUT quarterly cash dividend is payable on October 29, 2021, to shareholders of record at the close of business on October 15, 2021. A new annual rate of $1.20 per share yields 1.1% at a stock price of $110.
Johnson Outdoors has now announced a dividend hike for seven consecutive years, with double digit increases announced in the last six years. Dividend growth has been accelerating with an increase of more than 20 percent in 2018, 2019 and now also 2020 and 2021. The company will pay an estimated annual dividend of approximately $12 million to shareholders now.
Johnson Outdoors Inc. is a manufacturer of outdoor recreation equipment and technologies. The company designs, manufactures and markets a portfolio of brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors' brands include: Old Town canoes and kayaks; Ocean Kayak; Carlisle paddles; Minn Kota fishing motors, batteries and anchors; Cannon downriggers; Humminbird marine electronics and charts; SCUBAPRO dive equipment; Jetboil outdoor cooking systems; and, Eureka!camping and hiking equipment. Johnson Outdoors reinstated a quarterly dividend in 2013.