RACINE, Wis. - Johnson Outdoors Inc. (NASDAQ:JOUT), a prominent player in outdoor recreation equipment and technology, has declared a quarterly cash dividend for its shareholders. The company's Board of Directors approved a dividend of $0.33 per Class A share and $0.30 per Class B share, scheduled to be paid on July 25, 2024, to shareholders of record by the close of business on July 11, 2024.
Known for its portfolio of consumer-preferred brands, Johnson Outdoors caters to a variety of outdoor activities through its product lines, including Watercraft Recreation, Fishing, Diving, and Camping. The company's brand family features Old Town canoes and kayaks, Carlisle paddles, Minn Kota trolling motors, Cannon downriggers, Humminbird marine electronics, SCUBAPRO dive equipment, Jetboil outdoor cooking systems, and Eureka camping and hiking gear.
The dividend announcement follows Johnson Outdoors' continuous efforts to innovate within the outdoor recreation market, aiming to enhance outdoor experiences for enthusiasts around the globe. The company has a history of financial stability and shareholder value, with this dividend marking its ongoing commitment to returning value to its investors.
InvestingPro Insights
Johnson Outdoors Inc. (NASDAQ:JOUT) has recently caught the attention of shareholders with its dividend announcement, reflecting its commitment to providing shareholder value. The company, with a market capitalization of $351.64 million, has demonstrated a pattern of financial prudence, as evidenced by holding more cash than debt on its balance sheet—an InvestingPro Tip that suggests a solid financial foundation.
Moreover, Johnson Outdoors has been consistently raising its dividend, marking an impressive streak of 11 consecutive years of dividend growth. This is a testament to the company's stable cash flow and confidence in its business model, even as it trades at a high earnings multiple with a P/E ratio of 71.91. This ratio indicates a premium valuation, which may be justified by the company's robust track record of dividend payments, which have been maintained for 12 consecutive years.
Another notable metric for investors is the company's dividend yield, which as of the latest data stands at 3.83%. This yield is particularly attractive given the current market conditions and could be a sign of the stock's potential undervaluation, especially as it trades near its 52-week low. Additionally, despite recent pressures reflected in a revenue decline of 23.41% over the last twelve months as of Q1 2024, Johnson Outdoors has managed to maintain a gross profit margin of 36.84%, indicating its ability to control costs and preserve profitability margins.
For investors seeking more in-depth analysis and additional InvestingPro Tips, such as the company's RSI indicating that the stock is in oversold territory, Johnson Outdoors' performance on various financial metrics, and analysts' predictions for profitability this year, a visit to Investing.com's Pro platform is recommended. With 12 additional tips available, investors can gain a comprehensive understanding of the company's financial health and market position. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights for informed investment decisions.
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