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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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