Sturm Ruger & Company, Inc. announced that its Board of Directors declared a special dividend of $5.00 per share for stockholders of record as of December 15, 2022, payable on January 5, 2023.
Christopher J. Killoy, CEO, commented on the $5.00 per share special dividend, “Given our strong operational and financial performance, including our consistently positive cash flow, and our current cash balance of $220 million, we are returning a significant amount of our cash to shareholders. In the past ten years, we have returned over $590 million to our shareholders through our regular quarterly dividend, disciplined share repurchases, and our previous special dividends. During that period we reinvested over $300 million in capital expenditures to develop innovative new products and grow our Company. We also invested $28 million and brought the Marlin brand into our fold.”
Killoy concluded, “Our remaining cash holdings of approximately $130 million, coupled with our borrowing capacity, will allow us to continue to invest in capital expenditures in support of our commitment to new product development and innovation, maintain our quarterly dividend, and pursue opportunities that would generate further shareholder value.”
Photo courtesy Sturm Ruger
