garmin ltd (GRMN) Key Developments
Garmin Launches New Navigation App, Viago
Jun 17 14
Garmin has launched viago, a new premium navigation app for Google's (GOOG) Android and Apple's (AAPL) iPhone. Garmin viago offers advanced navigation features not available from free apps and comes with access to off-board maps for many regions around the world and navigation features such as current speed and speed limit display, lane assist, weather information, in-map traffic display, and photo-realistic junction views. Users will also be able to easily upgrade their experience with premium add-ons like downloadable maps that don't require a data connection to navigate, real-time traffic with automatic rerouting, urban navigation with public transportation, and 3D terrain view. Garmin viago is available now on Google Play and the App Store at an introductory price of $0.99 (normally $1.99) until July 13, 2014.
Garmin Launches Sales of Two New GPS-Enabled Dog Collars
Jun 12 14
Garmin has announced two new GPS-enabled collars, the TT 15 and T 5, for its Astro and Alpha dog tracking and training systems. The new TT 15 dog device allows tracking and training of sporting dogs up to nine miles away. GLONASS satellite technology was added to the unit of products to enable sporting dog owners to spend less time waiting for the collar to acquire satellites before the hunt. The new collars were also designed to better maintain location even in heavy cover and deep canyons. The collars are sold in two new bundles. The Astro bundle contains an Astro 320 and T 5, while the Alpha bundle contains an Alpha 100 and a TT 15. New to the Alpha bundle is an included one-year subscription to high-resolution BirdsEye Satellite Imagery, which depicts aerial views of trees and man-made structures. The new collars are also sold separately as an upgrade to existing Astro and Alpha systems.
Garmin Ltd. Approves Quarterly Dividends, Payable on June 30, 2014, September 30, 2014, December 31, 2014 and March 31, 2015 Respectively
Jun 6 14
Garmin Ltd. at the annual shareholders meeting held on June 6, 2014, approved a cash dividend in the amount of $1.92 per share (subject to possible adjustment based on the total amount of the dividend in Swiss Francs as approved at the annual meeting), payable in four equal installments. The board has determined that the June installment of the dividend will be paid as indicated below and currently anticipates the scheduling of the remaining quarterly dividends as follows: $0.48 per share on June 30, 2014 to shareholders of record on June 17, 2014; $0.48 per share on September 30, 2014 to shareholders of record on September 15, 2014; $0.48 per share on December 31, 2014 to shareholders of record on December 15, 2014; and $0.48 per share on March 31, 2015 to shareholders of record on March 16, 2015.
Garmin Ltd. Approves Amendments to the Article of Association
Jun 6 14
Garmin Ltd. announced at its 2014 Annual General Meeting has approved the amendments to the Article of Association.
Garmin Ltd. Announces Executive Changes
Jun 2 14
Garmin Ltd. announced that Doug Boessen has joined the company and will serve as chief financial officer and treasurer beginning July 31, 2014. Boessen recently served as CFO for Collective Brands Inc. where he began as associate controller in 1997. He will oversee financial planning, accounting, investor relations, treasury and internal audit functions, and will report to Garmin Ltd. president and chief executive officer, Cliff Pemble. Boessen will succeed Kevin Rauckman, who has served as CFO and treasurer of Garmin since 1999. Rauckman, who has chosen to pursue interests outside of Garmin, will remain at the company throughout 2014, working closely with Boessen to ensure a seamless transition.