Garmin said it will move its place of incorporation from the Cayman Islands to Switzerland, pending approval by the Grand Court of the Cayman Islands. As a sidenote to that very strange sounding announcement Wednesday, Garmin was originally a Taiwanese company.
Garmin says its business in Europe has been growing so the move to Switzerland makes sense.
Garmin also approved a one-time increase of its cash dividend to $1.50 per share, up from $0.75 per share, based on Garmin’s strong cash position.
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