Ziemer Elected CEO; Board of Directors Increases Dividend and Authorizes
Additional Share Buyback
MILWAUKEE, May 2 /PRNewswire-FirstCall/ -- Harley-Davidson, Inc.
(NYSE: HDI) announced today that its Board of Directors elected James L.
Ziemer as its CEO, increased the dividend, and also approved an additional
share repurchase authorization at the Annual Shareholder Meeting in Milwaukee
on April 30, 2005. All items of business presented to shareholders were
approved at the meeting.
Harley-Davidson, Inc.'s Board of Directors approved a cash dividend of
$0.16 per share payable June 24, 2005, to shareholders of record as of June
14, 2005. This represents a 28 percent increase over the previous dividend
paid on March 25, 2005. The Board of Directors also authorized the repurchase
of up to 20 million shares of the Company's stock. This authorization is in
addition to the previous 20 million share repurchase authorization approved by
the Board of Directors on April 24, 2004.
"Harley-Davidson's exceptional business performance has generated a strong
cash flow, enabling the Company to return value to shareholders through
increasing its dividend and authorizing the repurchase of additional shares of
stock," said Ziemer.
During the meeting, the shareholders approved the reelection of George
Conrades, Sara Levinson and George Miles as Class II Directors. The Employee
Short Term Incentive Plan was also approved, and Ernst & Young, LLP was
ratified as the Company's independent auditor for calendar year 2005.
Company Background
Harley-Davidson, Inc. is the parent company for the group of companies
doing business as Harley-Davidson Motor Company, Buell Motorcycle Company and
Harley-Davidson Financial Services. Harley-Davidson Motor Company, the only
major U.S.-based motorcycle manufacturer, produces heavyweight motorcycles and
offers a complete line of motorcycle parts, accessories, apparel, and general
merchandise. Buell Motorcycle Company produces sport motorcycles.
Harley-Davidson Financial Services provides wholesale and retail financing and
insurance programs to Harley-Davidson dealers and customers.
SOURCE Harley-Davidson, Inc.
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Related links:
http://www.harley-davidson.com
CONTACT:
Financial Contact, Mark Van Genderen,
+1-414-343-8002, or Media Contact, Bob Klein, +1-414-343-4433,
both of Harley-Davidson, Inc.
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