Thor Industries Inc. reports its dealer order volume during last week’s National RV Trade Show in Louisville amounted to a record $225 million, a 68% increase over last year’s $134 million.
Thor’s $134 million in sales during the 2002 Louisville show includes sales by Class A motorhome builder Damon Motor Coach, which Thor acquired last Sept. 2, according to the New York Stock Exchange-listed company.
Meanwhile, Thor, the leading manufacturer of towable RVs, also added 328 more dealers to its North American retail network during the Louisville show which ended Thursday (Dec. 4).
“These record results affirm our No. 1 position in the RV industry (in terms of unit volume) and this order input, on top of a record company order backlog of $319 million on Oct. 30 bodes well for a continuing strong fiscal 2004,” said Wade F.B. Thompson, chairman and CEO.
Additionally, on Tuesday (Dec. 9) Thor’s Board of Directors approved a 2-for-1 stock split and raised the number of authorized shares up to 250 million.
Thor’s stock split will be effective Jan. 26 for shareholders of record as of Jan. 5. The stock split will increase the number of outstanding Thor shares to around 57.6 million.
Thor’s stock closed at $55.10 a share on Tuesday.
Thor’s regularly quarterly cash dividend will remain at 3 cents a share after the stock split, which means the company’s dividend payout also will be double.
The board’s action Tuesday permitting Thor to possibly increase the number of its outstanding shares to as much as 250 million means the company might use newly created shares as currency to fund future acquisitions.