On July 24, 2014, Garmin’s Board of Directors approved an intercompany restructuring that will move certain US subsidiaries out from under our Taiwanese subsidiary. This change in corporate structure will provide access to historical earnings that were previously permanently reinvested, and will allow us to efficiently repatriate future earnings to fund dividends, share repurchases, and acquisitions. In order to change our corporate structure and access historical earnings, Garmin will make one-time cash tax payments of approximately $300 million over the next year.
Webcast Information/Forward-Looking Statements:
The information for Garmin Ltd.’s earnings call is as follows:
| When: | Wednesday, July 30, 2014 at 10:30 a.m. Eastern | |||||||||
| Where: |
http://www.garmin.com/aboutGarmin/invRelations/irCalendar.html |
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| How: | Simply log on to the web at the address above or call to listen in at 888-218-8172 | |||||||||
