Winnebago Industries Inc. announced that on August 18, the company’s Board of Directors approved a quarterly cash dividend of 18 cents 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 percent, 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 CFO 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 it would be moving its corporate headquarters from Forest City, IA to Eden Prairie, MN effective December 1, 2021. The company’s executive offices have been in Minnesota since 2016. The company said there are no planned job losses as a result of the move and this has no physical implication on manufacturing.
“Winnebago Industries has transformed into a broad outdoor lifestyle company with a premium portfolio of brands and products,” said Winnebago Industries President and CEO, 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 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 employees in the next twelve months to meet increased demand for its 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 adding new employees in North Iowa over the next year; and
- 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.”
Photo courtesy Winnebago Industries