MINNEAPOLIS, Jul 20, 2011 (BUSINESS WIRE) -- Polaris Industries Inc. (NYSE:PII) today announced that its Board of Directors has approved a two-for-one split of the Company's outstanding shares of Common Stock to be effected in the form of a one-hundred percent stock dividend. On September 12, 2011 Polaris shareholders will receive one additional share of Common Stock for each share of record they hold at the close of business on September 2, 2011. Upon completion of the stock split, Polaris will have approximately 69.0 million shares of Common Stock outstanding. In connection with the stock split, the Board of Director's approved a corresponding increase in the common shares authorized to be issued from 80.0 million shares to 160.0 million shares.Separately, Polaris also declared a regular quarterly $0.45 per share (pre-split) cash dividend payable on August 15, 2011 to shareholders of record at the close of business on August 1, 2011.
"These announcements underscore our strong market performance, continuing growth prospects, and track record of providing our shareholders with noteworthy, long-term returns. We are confident that we can maintain growth across all products and geographies by providing industry leading, high quality products and focused execution of our strategy," stated Scott Wine, Chief Executive Officer of Polaris.
SOURCE: Polaris Industries Inc.
Polaris Industries Inc. Richard Edwards, 763-542-0500