Thor Announces Increase in Quarterly Dividend
Elkhart, Ind.-based Thor Industries, Inc. announced today (Oct. 4) that its Board of Directors approved, at their Oct. 4, 2013 meeting, an increase of the payment amount of Thor’s regular quarterly dividend to $0.23 per share from $0.18 per share, an increase of nearly 28%.
The regular dividend is payable on Oct. 28, 2013 to shareholders of record at the close of business on Oct. 18, 2013.
“Our Board’s decision to increase our regular quarterly dividend reflects our continuing pattern of returning cash to our shareholders and the confidence of our Board in the future performance of Thor,” said Peter B. Orthwein, Thor executive chairman. “Upon receipt of the anticipated proceeds from the sale of our bus businesses, which is expected to close by Nov. 1, we expect to have approximately $6 per share in total cash, which we will use according to our ongoing priorities to grow our operations, maintain and grow our regular dividend and fund special dividends or share repurchases as appropriate.”