Q4 2021 Dorel Industries Inc Earnings Call Transcript
All right. Thank you. Good morning, and thank you all for joining us for Dorel's Fourth Quarter and Year-end Earnings Call for the period ended December 30. With me are Jeffrey Schwartz, CFO; and Frank Rana, VP of Finance. We will take your questions following our comments. Again, all figures are in U.S. dollars.
A key objective of any public company is to enhance shareholder value. Our efforts to do so have paid off handsomely with the sale of Dorel Sports. The team built an excellent bicycle business over the years, and we sold it in October at a very attractive price. Our timing was excellent, growing the business as the demand for bikes surged, particularly during the peak of COVID.
We rewarded shareholders with a special dividend disbursing $390 million to them. We also used the net proceeds to pay down debt, and our balance sheet is stronger than ever. We now intend to grow Dorel Home and Dorel Juvenile as we did Sports. Our strengthened balance sheet places Dorel in a firm financial position, which gives us
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