Smith & Wesson Brands Inc (SWBI) delighted its shareholders by announcing a 20% increase in its quarterly dividends.

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Optimistic Outlook

Smith & Wesson Brands Inc's President and CEO, Mark Smith, expressed satisfaction with the company's performance. He noted that the challenges posed by elevated channel inventory in the first half of the fiscal year subsided, resulting in a strong finish to FY23. The implementation of focused consumer promotions during the second half of the year successfully reduced retail and distributor inventories, bringing them to or below the targeted levels with every major customer.

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Increased Dividend Announcement

One exciting piece of news for Smith & Wesson Brands Inc's shareholders is the approval of a 20% increase in the quarterly dividend per share. The new dividend amount will be $0.12, up from the previous $0.10 per share. Shareholders of record as of July 13, 2023, will be eligible to receive the dividend, which is scheduled to be paid on July 27, 2023. This decision reflects the company's confidence in its financial position and its commitment to rewarding shareholders.

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Positive Outlook for Fiscal Year 2024

Deana McPherson, the Executive Vice President and CFO of Smith & Wesson Brands Inc, shared insights into the company's expectations for fiscal year 2024. She anticipates that consumer demand in the upcoming fiscal year will resemble that of FY23. However, she also expects an increase in shipments due to the significant decline in distribution channel inventory during the first half of the previous fiscal year. These expectations indicate a positive outlook for Smith & Wesson Brands Inc in the coming year.