Brunswick Corporation Raises Quarterly Dividend for the
METTAWA, Ill., Feb. 17 11, 2022 (GLOBE NEWSWIRE) — The board of directors of Brunswick Corporation (NYSE:BC) today declared a quarterly dividend on its common stock of $0.365 per share, an increase of 9% over the current dividend. .
This is the tenth consecutive year of a dividend increase.
The dividend will be payable on March 15, 2022 to shareholders of record at the close of business on February 23, 2022.
“The ability to increase our dividend for a tenth consecutive year, as part of our balanced and systematic capital strategy, is a testament to the strength of our business and our confidence in future growth,” said Dave Foulkes, CEO of Brunswick Corporation. “We are making tremendous strides in advancing every aspect of our Next Wave strategy which builds on our foundation as the largest and most innovative company in the maritime industry.”
Based in Mettawa, Illinois, Brunswick Corporation’s leading consumer brands include Mercury Marine outboard motors; Mercury MerCruiser sterndrive and inboard sets; Mercury Global Parts and Accessories, including SmartCraft propellers and electronics; Advanced Systems Group, which includes industry-leading brands such as Simrad, Lowrance, C-MAP, B&G, MotorGuide, Attwood, Mastervolt, RELiON, Blue Sea Systems, CZone and systems integrators ASG Connect; Distribution of Land ‘N’ Sea, BLA, Payne’s Marine, Kellogg Marine and Lankhorst Taselaar marine parts; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Network of nautical services, Boateka, Freedom Boat Club and Boat Class. For more information, visit brunswick.com.
Certain statements in this press release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates and projections about Brunswick’s business and, by their nature, deal with issues that are, to varying degrees, uncertain. Words such as “may”, “could”, “should”, “expect”, “anticipate”, “project”, “position”, “intend”, “target”, “plan” , “seeks”, “estimates”, “believes”, “predicts”, “outlooks” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this press release.. These risks include, but are not limited to: the effect of adverse general economic conditions, including the amount of disposable income available to consumers for discretionary spending; fiscal and monetary policy concerns; adverse capital market conditions; changes in exchange rates; higher energy and fuel costs; competitive pricing pressures; interest rate risk related to our debt; the coronavirus (COVID-19) pandemic and the emergence of variant strains; actual or anticipated cost increases, supply disruptions or defects in raw materials, parts or components we purchase from third parties, including due to pandemic pressures; supplier manufacturing constraints, increased demand from ocean carriers and transportation disruptions; manage our manufacturing footprint; adverse weather conditions, events related to climate change and other risks of catastrophic events; international business risks; our ability to develop new and innovative products and services at a competitive price; our ability to meet demand in a rapidly changing environment; loss of key customers; absorb fixed production costs; risks associated with joint ventures that do not operate solely for our benefit; our ability to integrate acquisitions, including Navico, and the risk of associated disruption to our business; the risk that unexpected costs may be incurred in connection with the Navico transaction or the possibility that the synergies and value creation expected from the transaction may not be realized or not be realized within the expected time frame; our ability to successfully implement our strategic plan and growth initiatives; attracting and retaining a skilled workforce, implementing succession plans for key executives and executing organizational and leadership changes; our ability to identify, complete and integrate targeted acquisitions; the risk that strategic divestitures will not provide commercial benefits; maintain efficient distribution; risks relating to the ability of dealers and customers to access adequate financing; requirements for us to repurchase inventory; inventory reductions by dealers, retailers or independent boat builders; risks related to the Freedom Boat Club franchise business model; outages, breaches or other cybersecurity events involving our technology systems, which could affect manufacturing and business operations and could result in the loss or theft of information and associated remediation costs; our ability to protect our brands and intellectual property; changes in US sales policy and pricing; any impairment in the value of goodwill and other assets; product liability, warranty and other claims risks; legal, environmental and other regulatory compliance, including increased costs, fines and reputational risks; changes in income tax law or administration; manage our share buybacks; and the risks associated with some divisive shareholder activism.