After spinning out the LiveWire brand from the Harley-Davidson name earlier this year, the MoCo is getting ready to take its electric motorcycle company public on the New York Stock Exchange (NYSE).
Harley-Davidson is taking LiveWire public (with the help of AEA Investors and Bridges Fund Management) through an interesting method called a special purpose acquisition company (SPAC), which is a method of creating an IPO without going through all the work that such an endeavor usually entails.
Harley-Davidson has just announced that it will be giving out a 10¢/share dividend for the third quarter of 2010. Being paid on October 15th to anyone who owns Harley-Davidson stock (NYSE: HOG) on October 1st, 2010, holders of HOG common stock will get a chance to be rewarded for investing in the Milwaukee brand. It’s not clear at this time if Harley-Davidson intends to keep the cash dividend for future quarters, or if this is one-quarter only event.
With HOG currently trading at $28.43/share, this announcement means essentially an automatic 1.2% investment gain for stock owners, however contact your financial advisor before placing any orders…you shouldn’t take stock advice from a motorcycle blog.