PriceSmart Announces 8.6% Increase to Annual Dividend and; Voting Results from the 2025 Annual Meeting of Stockholders
The Californer/10304564

SAN DIEGO, Feb. 7, 2025 ~ San Diego-based company PriceSmart, Inc. (NASDAQ: PSMT) has announced an 8.6% increase in its annual dividend and the results of its 2025 annual meeting of stockholders held on February 6, 2025.

The Board of Directors declared an annual cash dividend of $1.26 per share, with $0.63 per share payable on February 28, 2025 to stockholders of record as of February 18, 2025 and $0.63 per share payable on August 29, 2025 to stockholders of record as of August 15, 2025. This marks an increase from last year's dividend of $1.16 per share, which was paid in two installments of $0.58 per share.

The decision to increase the dividend by 8.6% reflects the Board's confidence in PriceSmart and its strong cash generating activities.

PriceSmart anticipates continuing to pay annual dividends in the future, but the actual declaration and amount will be determined by the Board after reviewing the company's financial performance and capital requirements, taking into account macroeconomic conditions.

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At the annual meeting of stockholders, eleven nominees were elected to PriceSmart's Board of Directors. They will hold office until the next annual meeting or until they resign or a successor is elected or appointed. The elected directors include Sherry S. Bahrambeygui, Jeffrey R. Fisher, Gordon H. Hanson, Beatriz V. Infante, Leon C. Janks, Patricia Márquez, David N. Price, Robert E. Price, David R. Snyder, John D.Thelan and Edgar Zurcher.

Stockholders also approved the compensation for named executive officers for fiscal year 2024 on an advisory basis and ratified Ernst & Young LLP as the independent registered public accounting firm for fiscal year ending August 31st ,2025. An official report on the voting results will be filed with the U.S. Securities and Exchange Commission within four business days of the annual meeting.

PriceSmart, headquartered in San Diego, operates 54 warehouse clubs in 12 countries and one U.S. territory. These include ten clubs in Colombia, eight in Costa Rica, seven in Panama, six in Guatemala, five in Dominican Republic, four each in Trinidad and El Salvador, three in Honduras, two each in Nicaragua and Jamaica, and one each in Aruba, Barbados and the United States Virgin Islands.

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The company plans to open two new warehouse clubs - one in Cartago, Costa Rica this spring and another one in Quetzaltenango, Guatemala this summer. This will bring the total number of warehouse clubs operated by PriceSmart to 56.

PriceSmart offers high-quality merchandise and services at low prices to its members. The company's success is reflected by its expansion into various countries across Latin America and the Caribbean.

This press release may contain forward-looking statements that are subject to risks and uncertainties. These statements are based on current expectations and assumptions but may differ materially from actual results due to various factors such as economic conditions. PriceSmart does not undertake any obligation to update these forward-looking statements.

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