Polaris Raises Dividend; Yield Is 2.2%

On the back of a highly encouraging earnings report, Polaris Industries (NYSE: PII) has declared the latest in a long series of regular dividend raises. The off-road vehicle and motorcycle maker announced Wednesday that it's bumping its quarterly payout 2% higher to $0.63 per share.

At the most recent closing share price, this would yield 2.2%. The raised dividend is to be handed out on March 15 to stockholders of record as of March 1.

In its announcement, Polaris sounded a confident note about the finances that are giving it room to raise the distribution. It didn't hesitate to mention that it generated over $1 billion in cash flow last year. "As we look to 2021, our financial position remains strong, despite the unprecedented times globally," interim CEO Mike Speetzen said.

Source Fool.com