Dividend up 10% per share year over year; Jones, Ng and Zahnd elected to board of directors
SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR — Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that during its annual general meeting (AGM) the Company’s shareholders approved a dividend of approximately CHF 0.96 per share — an increase of approximately 10% compared to the Fiscal Year 2021 dividend.
Additionally, at the meeting, Logitech’s shareholders elected to the board of directors Christopher Jones, chief product officer at Amperity, Inc.; Frankie Ng, chief executive officer of SGS S.A.; and Sascha Zahnd, non-executive chairman of Valora Holding AG and formerly vice president EMEA and Global Supply Chain of Tesla Inc. All incumbent nominees standing for re-election were re-elected, and all other proposals at the AGM were approved.
Wendy Becker, Logitech’s chairperson of the board, said: “We were pleased to be able to gather in person once again at this year’s AGM and reflect on another year of growth - Logitech’s ninth in a row - and on the many long-term opportunities ahead of us. Chris, Frankie and Sascha are great new additions to the team, bringing deep strategic and senior leadership experience from diverse backgrounds. I’m also delighted to announce an increased annual dividend for Logitech shareholders.”
Logitech expects the payment date for the dividend to be September 28, 2022 and the record date for the dividend to be September 27, 2022. The shares are expected to be traded ex-dividend on the SIX Swiss Exchange and the Nasdaq Global Select Market starting on September 26, 2022. Shareholders will find more information about the dividend on the Logitech corporate website at http://ir.logitech.com.
Logitech helps all people pursue their passions by designing experiences so everyone can create, achieve, and enjoy more. Logitech designs and creates products that bring people together through computing, gaming, video, streaming and creating, and music. Brands of Logitech include Logitech, Logitech G, ASTRO Gaming, Streamlabs, Blue Microphones and Ultimate Ears. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding long-term opportunities and the timing of dividend payments, record date and ex-dividend trading date. The forward-looking statements in this press release involve risks and uncertainties that could cause Logitech’s actual results and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: macroeconomic and geopolitical conditions and their impact, including the COVID-19 pandemic, the war in Ukraine, changes in inflation levels and monetary policies; if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of demand variability, supply shortages and other supply chain challenges; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if we are not able to maintain and enhance our brands; if our products and marketing strategies fail to separate our products from competitors’ products; if we do not efficiently manage our spending; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates; changes in trade regulations, policies and agreements and the imposition of tariffs that affect our products or operations and our ability to mitigate; if we do not successfully execute on strategic acquisitions and investments; risks associated with acquisitions; and the effect of changes to our effective income tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech’s periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2022, our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022 and our subsequent reports filed with the SEC, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.
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