Winnebago Industries Board of Directors approves 50% increase to quarterly cash dividend and headquarters move to Eden Prairie, Minnesota
August 18 2021 - 3:30PM
Winnebago Industries, Inc. (NYSE:WGO), a leading outdoor
lifestyle product manufacturer, today announced that on August
18, 2021, the Company’s Board of Directors approved a quarterly
cash dividend of $0.18 per share payable
on September 29, 2021, to common stockholders of record at the
close of business on September 15, 2021. Today’s dividend
declaration represents a 50% or $0.06 per share increase
from the previous quarter.
With this announcement, Winnebago Industries has paid
a quarterly cash dividend to common stockholders of record for the
last 29 quarters.
“We are pleased to significantly increase the dividend for our
shareholders,” said Winnebago Industries Chief Financial
Officer Bryan Hughes. “This action further reflects the
company’s strong financial position and the sustained appeal of our
portfolio of premium outdoor lifestyle brands which leads to a high
level of confidence in our future.”
Winnebago Industries also announced today it will be shifting
its corporate headquarters address from Forest City, Iowa to Eden
Prairie, Minnesota, effective December 1, 2021. The company’s
executive offices have been in Minnesota since 2016. There is no
planned job loss as a result of the headquarters transition and
this action has no physical implication on any manufacturing
assets.
“Winnebago Industries has transformed into a broad outdoor
lifestyle company with a premium portfolio of brands and products,”
said Winnebago Industries President and Chief Executive Officer,
Michael Happe. “Over the past several years, through strategic
growth investments, we have expanded our company’s footprint to now
include locations in Iowa, Indiana, Florida and Minnesota. Our Twin
Cities location has been and will continue to be an effective
resource for executing our vision as a premier outdoor recreation
enterprise, as it supports the growth of all of our strong brands.
We are genuinely proud of our historical roots in Forest City and
the incredible contributions of all our past and current Iowa
employees to the company’s success through the years.”
Winnebago Industries currently employs approximately 6,500
employees with approximately 100 employees based out of its Eden
Prairie office. Following the transition, Winnebago Industries will
remain strongly rooted in North Iowa. The company’s Iowa operations
will continue to be the manufacturing hub of Winnebago motorhome
and specialty vehicles products and currently employs approximately
2,100 people with plans to add team members in the next twelve
months to meet increased demand for Winnebago RV products. The
company continues to implement major infrastructure and economic
investments to support employees, training and job growth at its
North Iowa campuses including:
- Providing multi-year support totaling $500,000 to the John V.
Hanson Career Center, an initiative to provide students with
educational opportunities and skills in high demand areas including
advanced manufacturing.
- Initiating a hiring campaign to meet increased demand in
Winnebago RVs and the need to add additional new team members in
North Iowa over the next year.
- Implementing facility improvements and expanding motorhome
manufacturing capacity
“North Iowa has been home to Winnebago Industries for 63 years
and it will remain a critical community for current operations and
future growth,” said Huw Bower President, Winnebago Outdoors. “We
are committed to supporting North Iowa and being active
contributors to the community as we to strive to further develop
our storied Winnebago brand by driving it to new heights through a
relentless focus on quality, service and innovation.”
About Winnebago IndustriesWinnebago
Industries, Inc. is a leading North American manufacturer of
outdoor lifestyle products and commercial vehicles under
the Winnebago, Grand Design, Chris-Craft and Newmar
brands, which are used primarily in leisure travel and outdoor
recreation activities. Winnebago Industries has previously
announced it has entered into a definitive agreement to acquire
Barletta Pontoon Boats, the industry’s fastest-growing, premium
pontoon boat manufacturer. Winnebago Industries builds quality
motorhomes, travel trailers, fifth-wheel products, boats, and
commercial community outreach vehicles. Winnebago
Industries has multiple facilities
in Iowa, Indiana, Minnesota, and Florida. The
Company's common stock is listed on the New York Stock
Exchange and traded under the symbol WGO. For access
to Winnebago Industries' investor relations material or
to add your name to an automatic email list for Company news
releases, visit http://investor.wgo.net.
Contact: Steve Stuber - Investor Relations - 952-828-8461
– srstuber@wgo.netMedia Contact: Sam Jefson – Public Relations
Specialist – 641-585-6803 - sjefson@wgo.net
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