By Colin Kellaher

Garmin's board plans to recommend a nearly 17% increase in the navigation company's dividend.

Garmin on Wednesday said it will ask shareholders to approve an annual payout of $4.20, or $1.05 on a quarterly basis, at the annual meeting slated for June 5, up from the current $3.60, or 90 cents a quarter.

The proposed new dividend would offer an annual yield of about 1.94% based on Tuesday's closing price of $216.98 for the Switzerland-based company, up from 1.66%.

The increase would be effective with the dividend payable in June, Garmin said.

Garmin also said its board authorized the repurchase of up to $500 million in stock through 2028.

Garmin, which sports a market capitalization of around $41.7 billion, said the new buyback replaces a $300 million program authorized in February 2024 under which it bought back $244 million worth of stock through Dec. 27, 2025.

Shares of Garmin were recently up 12% to $243.11 in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 18, 2026 07:53 ET (12:53 GMT)

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