Harley-Davidson Inc ., the largest U.S. motorcycle maker, raised its quarterly dividend 20 percent, the second increase this year. The payout will be 30 cents, Milwaukee-based Harley said. The company on April 28 lifted the dividend 19 percent, to 25 cents. Harley is boosting payments to shareholders as its profit outlook dims and shares decline. The maker has deepened production cuts and reduced its earnings forecast for 2007 as much as 6 percent. Shares have dropped 33 percent this year through Wednesday. "Despite the production cuts, they've got some confidence on their cash flow for 2008 and beyond," said Joe Hovorka, an analyst for Raymond James & Associates in Atlanta.
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