MILWAUKEE - Harley-Davidson, Inc. (NYSE:HOG) announced that its Board of Directors has declared a dividend for the third quarter of 2024. Shareholders of the iconic motorcycle company will receive a payment of $0.1725 per share. This dividend is slated for distribution on September 27, 2024, to shareholders who are on record as of September 16, 2024.
The company, which is known for its heavyweight motorcycles and a broad range of branded merchandise, has a long-standing tradition of returning value to its shareholders through dividends. The announcement of this latest dividend is in line with Harley-Davidson's practice of providing quarterly financial benefits to its investors.
Harley-Davidson, Inc. operates through its two wholly-owned subsidiaries, Harley-Davidson Motor Company, which focuses on the manufacture and sale of motorcycles, and Harley-Davidson Financial Services, which provides wholesale and retail financing, insurance, and other programs to Harley-Davidson dealers and customers.
The dividend announcement is an important piece of information for investors and market watchers, as it reflects the company's financial health and its commitment to shareholder returns. It is also a key indicator of the company's confidence in its financial stability and future earnings.
As the payment date approaches, eligible shareholders must ensure that they are on the company's books by the record date to receive the dividend. The company's stock performance and dividend yield are often closely monitored by the investment community as they assess the ongoing value proposition offered by Harley-Davidson.
This dividend declaration is based on a press release statement issued by Harley-Davidson, Inc. It is a factual representation of the company's financial actions regarding shareholder dividends without any promotional language or subjective commentary.
In other recent news, Harley-Davidson, the renowned motorcycle manufacturer, reported a second-quarter profit that surpassed Wall Street expectations, primarily driven by robust sales of its high-end Touring motorcycles. However, the company has revised its revenue outlook for 2024, suggesting a potential downturn in demand and plans for more significant production cuts later this year. Harley-Davidson also announced a $1 billion share repurchase plan, a strategic financial decision that, along with dividend payments, is expected to yield an 11% return to shareholders.
UBS, Baird, and Citi have all adjusted their price targets for Harley-Davidson, reflecting the company's recent initiatives and performance. The company's plans to shift production to Thailand and its share repurchase program were key considerations in these adjustments.
In terms of other developments, Harley-Davidson is set to receive an $89 million grant from the Biden administration to expand its Pennsylvania plant for manufacturing electric motorcycles. The grant is part of the government's $1.1 billion initiative for electric vehicle production. These recent developments highlight the company's ongoing efforts to enhance supply chain efficiency, shareholder value, and its position in the electric vehicle market.
InvestingPro Insights
As Harley-Davidson (NYSE:HOG) prepares to distribute its quarterly dividend, investors may find additional context in the company's current financial metrics and market performance. According to recent data from InvestingPro, Harley-Davidson has a market capitalization of $4.93 billion and is trading at an earnings multiple of 7.58. This valuation reflects a modest price-to-earnings (P/E) ratio, which is slightly adjusted to 7.27 for the last twelve months as of Q2 2024, indicating a potentially undervalued stock as per the industry average.
The company's revenue for the last twelve months as of Q2 2024 stands at $5.95 billion, with a gross profit margin of 28.74%. While there was a slight revenue decline of 1.23% over the last twelve months, the quarterly revenue growth shows a significant increase of 11.99%, suggesting a positive short-term business trajectory. This growth may be particularly relevant to investors looking for companies with the potential to expand revenue streams despite broader market challenges.
InvestingPro Tips highlight that management at Harley-Davidson has been actively buying back shares and has raised its dividend for three consecutive years, demonstrating a commitment to shareholder value. The company has also maintained dividend payments for an impressive 32 consecutive years, which can be a reassuring sign for income-focused investors. Currently, there are 6 additional InvestingPro Tips available for Harley-Davidson, which can provide deeper insights into the company's performance and outlook (https://www.investing.com/pro/HOG).
For those considering an investment in Harley-Davidson or current shareholders looking to reassess their position, these metrics and insights can serve as valuable tools in making informed decisions. The company's consistent dividend payments, coupled with a strong gross profit margin and management's confidence as evidenced by share buybacks, paint a picture of a business that values its financial commitments to shareholders.
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