Press Release:
PORTLAND, Ore.–(BUSINESS WIRE)– Columbia Sportswear Company (NASDAQ:COLM – News), a leading innovator in the global outdoor apparel, footwear, accessories and equipment industries, today announced the company’s board of directors approved a special cash dividend of $1.50 per share, payable on December 6, 2010 to shareholders of record on November 22, 2010. The aggregate amount of payment to be made in connection with the special cash dividend will be approximately $51 million.
Tim Boyle, Columbia’s president and chief executive officer, commented, “Today’s announcement of a $1.50 special cash dividend to be paid before the end of the year follows last month’s announcement of an 11 percent increase in the company’s quarterly cash dividend, to $0.20 per share, from $0.18 per share. Our strong balance sheet, with over $230 million in cash at September 30, 2010 and zero long-term debt, allows us to provide shareholders with this additional value while maintaining our flexibility to invest in strategic growth initiatives, continue to repurchase shares and explore potential acquisition opportunities.”
About Columbia Sportswear
Columbia Sportswear Company is a leading innovator in the global outdoor apparel, footwear, accessories and equipment markets. Founded in 1938 in Portland, Oregon, Columbia products are sold in more than 100 countries and have earned an international reputation for innovation, quality and performance. Columbia products feature innovative technologies and designs that protect outdoor enthusiasts from the elements, increase comfort, and make outdoor activities more enjoyable. In addition to the Columbia® brand, Columbia Sportswear Company also owns outdoor brands Mountain Hardwear®, Sorel®, and Montrail®. To learn more, please visit the company’s websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, and www.montrail.com.
