Harley-Davidson, Inc. (NYSE: HOG) has news about the dividend and also about its Chairman of the Board. The motorcycle maker announced that its President and Chief Executive Officer Keith E. Wandell will take on the duties of the role of Chairman “effective immediately.” The report also shows that Wandell was named Chairman by Board action.
Barry K. Allen has served as the non-executive Chairman since 2009. Additionally, the board of directors named Richard I. Beattie as Lead Director, although he has been an outside director of Harley-Davidson since 1996. He will head oversight and monitoring activities of the board that would otherwise be performed by a non-executive Chairman.
The company has now approved a cash dividend of $0.155 per share for the first quarter of 2012 and that is a jump of almost 25% from the $0.125 prior dividend.
Today’s news comes at a time when the stock is very near a high. Shares closed up 1.3% at $45.91 against a 52-week range of $31.50 to $46.88. Harley now has a market cap of over $10.5 billion.
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