Spectrum Brands Announces Special Dividend

Spectrum Brands Holdings, Inc.(SPB) is initiating a $0.25 per share quarterly common stock dividend starting in fiscal 2013 – expected to be paid in March, June, September and December each year – and declared a one-time special dividend of $1.00 per share to be paid on Sept. 18 to shareholders as of Aug. 27. Shares are trading at $36.41 for a one-time special dividend yield of 2.75%.

Spectrum started out making Rayovac batteries in 1906, and now controls a portfolio of consumer-product brands from Remington shavers to Cutter bug spray. In late December, the company completed its $140 million acquisition of FURminator, which makes dog and cat grooming tools and accessories.

For the quarter ended July 1, Spectrum reported a profit of $58.7 million, or $1.13 a share, up from $28.6 million, or 56 cents a share, a year earlier. Excluding restructuring, acquisition and other items, earnings rose to 78 cents a share from 66 cents.  Sales edged up 2.5% to $824.8 million.

Company profile:

Spectrum Brands Holdings, Inc (SPB,) a member of the Russell 2000 Index, is a diversified, global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, our Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac®, Remington®, Varta®, George Foreman®, Farberware®, Black & Decker®, Russell Hobbs®, Toastmaster®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. Spectrum Brands Holdings’  products are sold by the world’s top 25 retailers and are available in more than one million stores in approximately 120 countries. With 6,000 employees in 43 countries, Spectrum Brands Holdings reported fiscal 2011 net sales of approximately $3.2 billion.