PriceSmart Announces 8.6% Increase to Annual Dividend and; Voting Results from the 2025 Annual Meeting of Stockholders

Core Points - PriceSmart, Inc. announced an 8.6% increase in its annual dividend, reflecting the Board's confidence in the company's financial strength [1][2] - The annual cash dividend is set at $1.26 per share, with payments scheduled for February 28, 2025, and August 29, 2025 [2] - The company operates 54 warehouse clubs across 12 countries and plans to open two additional clubs in Costa Rica and Guatemala in 2025 [6] Dividend Declaration - The Board of Directors declared an annual cash dividend of$1.26 per share, an increase from last year's $1.16 per share [2] - The dividend will be paid in two installments of$0.63 per share [2] - Future dividends will be determined at the Board's discretion based on financial performance and capital requirements [3] Annual Meeting Results - Eleven nominees were elected to the PriceSmart Board of Directors during the annual meeting [4] - Stockholders approved the compensation for named executive officers for fiscal year 2024 and an amendment to increase the number of shares available for equity awards by 750,000 [5] - Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending August 31, 2025 [5] Company Overview - PriceSmart operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean [6] - The company currently has 54 warehouse clubs and plans to expand to 56 with new openings in 2025 [6]