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Polaris Industries' CEO Hosts Analyst And Investor Meeting (Transcript)

Stocks in this article: PII

Long term shareholder returns is really the key. We obviously understand that no matter what we do we can’t dictate how the market reacts, but we know if we continue to put up the fundamentals, over time we’ll be rewarded for it. And I think you can see in the five-year chart, we have been.

Don’t forget, we still pay a healthy dividend given where the stock price is, we’re right about, above or below 2% after that 64% increase we did this year. So we’re very committed to a disciplined capital allocation model. I will tell you that as we look forward, some of these tax increases and the dividends ultimately are taxed to 35% of the corporate level and 43% going out the door. We may rethink these healthy dividend increases, but we’re committed to rewarding our shareholders that way.

Return on Invested Capital. This is one where not only do we beat our peer group by a mile, but you can also see almost any company out there or industry, industrial average you’ll see we’re way ahead and as we continue to invest, don’t think we’re going to lose the discipline we’ve had to continue to drive these returns.

This is something you probably don’t see very often, but we at every single leadership team meeting we review these because my belief is that if we continue to put up good net income numbers and good top line growth number that can happen over the short term. But if we let these fundamentals start to drift south, we’re going to feel the pain. So we work very hard to make sure that we never let ourselves get our eyes off this. So best people, best team, you’ll see that today, you’ll see it as you talk to our people out in the display room, you’ll see it at the ride site today. Really it’s the people who that make up the difference at Polaris. We’ve added over 2000 employees over the last couple of years and as we’ve added we’ve actually gotten stronger.

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