Not surprisingly in light of the recent downturn in its sales, Harley-Davidson (NYSE: HOG) has announced it will be scaling back production later this year, including a week-long shutdown of plants in York, PA, Kansas City, MO and several in Wisconsin the week after Thanksgiving. (I doubt it is a coincidence that this is the first week of deer season in most of the Midwest. Therefore, don't expect a huge outcry from the H-D crew over the extra time off.) The company also plans other, undefined, steps to rein in production. Shareholders who have watched HOG stock price tumble from a 52-week high of $75.87 to under $50 may take a small consolation in the announcement that the Board of Directors has approved a dividend of $.30 per share for the third quarter of 2007. This is 20% more than that paid in the second quarter, and well above the $.21 paid in the same quarter 2006.
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Reader Comments (Page 1 of 1)
9-19-2007 @ 9:04PM
bobbi said...
Hog please do something to bring you back in good shape. Come up with a New Idea ......
Love your merchandise and the company sad to see my stock go down so much after all these years.
9-25-2007 @ 11:29AM
Ray Malzo said...
I find it ironic that the Motor Company finds it necessary to give their stockholders a raise when there sales are falling. They recently spent millions on a failed finance promotion, and their dealers are asking for help. It sure proves what is more important to them. Their stockholders and not the dealers. It is obvious that this production cut is going to be one of many but they elected to do it in small pieces instead of all at once, which would have been the way it should have been done.