Clarus Corp reinstates quarterly dividend in Q4 of 2020

Clarus Corp dividend reinstated
Clarus Corporation (CLAR) will reinstate its quarterly dividend of 2.5 cents per share. The previous quarterly dividend was suspended because of COVID-19.

The cash dividend will be paid on November 20, 2020, to all stockholders of record as of November 9, 2020. The reinstated annual dividend rate of 10 cents per share yields 0.7% at at stock price of $14.90.

In today's press release the company announces the dividend reinstatement: “As Clarus continues to recover from the height of the COVID-19 pandemic, we are returning to the cash payment of our regular quarterly dividend initiated over two years ago,” said Warren Kanders, Executive Chairman of Clarus. “When we temporarily replaced the cash dividend with a stock dividend earlier this year, we felt it was prudent during the unprecedented times that were upon us. Since then, we have made progress stabilizing the business across our diversified portfolio of brands and we look forward to continue rewarding our long-term shareholders.”

The annual dividend payment to shareholders will be approximately $3 million. Clarus currently has a market cap of $465 million with the stock price up 10% year-to-date. Clarus peer VF Corp hiked its dividend by 2.1 percent last Friday.

Headquartered in Salt Lake City, Utah, Clarus Corporation is a leading developer, manufacturer and distributor of best-in class outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport markets. With a strong reputation for innovation, style, quality, design, safety and durability, Clarus’ portfolio of iconic brands includes Black Diamond®, Sierra®, Barnes®, PIEPS®, and SKINourishment® sold through specialty and online retailers, distributors and original equipment manufacturers throughout the U.S. and internationally.

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