Polaris Announces Record Profit Sharing
Polaris Industries Inc. (NYSE: PII), brand owners of Victory Motorcycles and Polaris Snowmobiles, announced it is continuing a 29 year profit-sharing payment tradition.
Over $13.6 million of the company’s 2010 profits will be shared among approximately 2,250 hourly and non-salaried Polaris employees in a cash payment. On average, each of these employees will receive nearly 19 percent of their annual pay base.
Polaris also will distribute profit-sharing payments to each of its fulltime salaried employees. Additionally, all Polaris employees will participate in the distribution of $8.1 million worth of Polaris stock that is contributed to their retirement plan.
"We delivered strong performance and posted record results in 2010, and it feels good to reward the hard work and dedication of our employees," said Scott Wine, Chief Executive Officer.
"It is fundamental to our culture that all employees share in the success they worked so diligently to create."
With annual 2010 sales of $1.99 billion, Polaris designs, engineers, manufactures and markets off-road vehicles (ORVs), including all-terrain vehicles (ATVs), the Polaris RANGER Side x Sides, snowmobiles and Victory motorcycles for recreational and utility use and has recently introduced a new on-road electric powered neighborhood vehicle.
Polaris is a recognized leader in the snowmobile industry; and one of the largest manufacturers of ORVs in the world.
Victory motorcycles established in 1998 and representing the first all-new American-made motorcycle from a major company in nearly 60 years, are rapidly making impressive in-roads into the cruiser and touring motorcycle marketplace.
Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol "PII," and the Company is included in the S&P MidCap 400 stock price index.
Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime from the Polaris homepage at www.polarisindustries.com.