Garmin Issues FY18 Guidance; Proposes Dividend Increase - Quick Facts

(RTTNews) - Garmin Ltd. (GRMN) announced the company currently expects, for fiscal 2018, pro forma EPS will be approximately $3.05. The company currently expects 2018 revenue of approximately $3.2 billion as growth in marine, outdoor and aviation is partially offset by ongoing declines in the PND market.

Fourth-quarter pro forma EPS was $0.79, representing growth of 9%. Total revenue was $888 million, growing 3% over the prior year quarter, with outdoor, fitness, marine and aviation collectively growing 9% over the prior year quarter and contributing 78% of total revenue.

The board said it intends to recommend to the shareholders for approval at the annual meeting to be held on June 8, 2018, a cash dividend in the amount of $2.12 per share. The board has established March 30, 2018 as the payment date and March 15, 2018 as the record date for the final dividend installment of $0.51 per share, per the prior approval at the 2017 annual shareholders' meeting.