UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
Form 8-K/A
_____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported): September 29, 2017
Johnson Outdoors Inc.
(Exact Name of Registrant as Specified in Charter)
| WISCONSIN | 0-16255 | 39-1536083 |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
| 555 Main Street, Racine, Wisconsin 53403 |
| (Address of Principal Executive Offices) (Zip Code) |
(262) 631-6600
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||
| [ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| [ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| [ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| [ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Section 7 Regulation FD
Item 7.01. Regulation FD Disclosure.
On September 29, 2017, Johnson Outdoors Inc. (the “Company”) filed a Current Report on Form 8-K disclosing the Company's issuance of a press release announcing approval by the Board of Directors of a quarterly cash dividend payable on October 27, 2017 to shareholders of record at the close of business on October 13, 2017 (the “Press Release”). Subsequent to the issuance of the Press Release and the filing of the Form 8-K report related thereto, the Company learned that the Press Release incorrectly reported the quarterly cash dividend on the Company’s Class A shares as $0.010 per share. The correct amount of the quarterly cash dividend on the Company’s Class A shares should have been reported as $0.100 per share. The information in this Form 8-K is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.
Section 9 Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
Exhibit 99.1. Press release dated September 29, 2017
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Johnson Outdoors Inc. | ||
| Date: September 29, 2017 | By: | /s/ David W. Johnson |
| David W. Johnson | ||
| Vice President and Chief Financial Officer | ||
EXHIBIT 99.1
CORRECTION: Johnson Outdoors Announces Increase in Cash Dividend
RACINE, Wis., Sept. 29, 2017 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT), a global leader in innovative outdoor recreation equipment products, today announced approval by its Board of Directors of an increase in its quarterly cash dividend. A prior press release incorrectly noted the increase for Class A shares was from $.090 to $.010. The increased dividend for Class A shares should have been reported as an increase to $0.10 per Class A share. The increased dividend rate for Class B shares as well as the record date and payable date were properly reported in the prior press release, which follows.
Johnson Outdoors Inc. (Nasdaq:JOUT), a global leader in innovative outdoor recreation equipment products, today announced approval by its Board of Directors of a quarterly cash dividend of $0.10 per Class A share and $0.0909 per Class B share – an 11.1% increase from the dividend rates declared in previous quarters.
“We have paid off our debt and continue to add to our healthy cash position. This dividend increase reflects our confidence in our business performance and strategic plans,” said David W. Johnson, Vice President and Chief Financial Officer.
The quarterly cash dividend is payable on October 27, 2017 to shareholders of record at the close of business on October 13, 2017.
ABOUT JOHNSON OUTDOORS INC.
JOHNSON OUTDOORS is a leading global outdoor recreation company that inspires more people to experience the awe of the great outdoors with innovative, top-quality products. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors' iconic brands include: Old Town® canoes and kayaks; Ocean Kayak™; Carlisle® paddles; Minn Kota® fishing motors, batteries and anchors; Cannon® downriggers; Humminbird® marine electronics and charts; SCUBAPRO® dive equipment; Jetboil® outdoor cooking systems; and, Eureka!®camping and hiking equipment.
Visit Johnson Outdoors at http://www.johnsonoutdoors.com
SAFE HARBOR STATEMENT
Certain matters discussed in this press release are “forward-looking statements,” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as "anticipate,'' "believe,'' “confident,” "could,'' "expect,'' "intend,'' "may,'' "planned,'' "potential,'' "should,'' "will,'' "would'' or the negative of those terms or other words of similar meaning. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms and focus on innovation; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in working capital management and cost-structure reductions; the Company’s ongoing success in meeting financial covenants in its credit agreements with its lenders; the Company’s success in integrating strategic acquisitions; the risk of future writedowns of goodwill or other long-lived assets; the ability of the Company's customers to meet payment obligations; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials used by the Company; the success of the Company’s suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; adverse weather conditions; and other risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
At Johnson Outdoors Inc.
David Johnson
VP & Chief Financial Officer
262-631-6600
Patricia Penman
VP – Global Marketing Services & Communication
262-631-6600