Thor Industries Inc. announced that its board approved at its Dec. 11 meeting a special cash dividend of $1.50 per share payable on the company’s common shares. The Jackson Center, Ohio-based builder also announced that board approved an acceleration of the payment of Thor’s regular quarterly dividend of 18 cents per share from January 2013 to December 2012.
Both the special dividend and regular dividend are payable on Dec. 28 to shareholders of record at the close of business on Dec. 21.
“The payment of a special dividend reflects the confidence of the board in the strong cash position of Thor’s balance sheet and the future performance of our company,” said Peter B. Orthwein, Thor chairman and CEO. “With cash of more than $4 per share as of Oct. 31, 2012, we believe we have adequate resources to invest in capital projects while providing an important cash return to our shareholders. In addition, given the current uncertainty surrounding the direction of future tax policy, the board thought it prudent to pay the special dividend and our next regular dividend in December to take advantage of current tax rates.”