CHARLOTTE, Mich., May 6, 2019 /PRNewswire/ -- Spartan Motors,
Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), the North
American leader in specialty vehicle manufacturing and assembly for
the commercial and retail vehicle industries, as well as for the
emergency response and recreational vehicle markets, today
announced that its Board of Directors declared a cash dividend of
$0.05 per share of common
stock.
The Charlotte, Michigan-based
manufacturer reported that its semi-annual dividend will be payable
on or before June 17, 2019, to
shareholders of record at the close of business on May 17, 2019.
"On behalf of Spartan Motors' Board of Directors, I am pleased
to announce the declaration of our semi-annual dividend, which
marks the 26th consecutive year that the Company has paid a
dividend," said Daryl Adams,
President and Chief Executive Officer of Spartan Motors. "We
remain confident in our long-term growth goals and our ability to
achieve strong, profitable sales. This is underscored by our
continued dividend payment and commitment to delivering value
for shareholders."
About Spartan Motors
Spartan Motors, Inc. is the North
American leader in specialty vehicle manufacturing and assembly for
the commercial and retail vehicle industries (including last-mile
delivery, specialty service, and vocation-specific upfit segments),
as well as for the emergency response and recreational vehicle
markets. The Company is organized into three core business
segments, including Spartan Fleet Vehicles and Services, Spartan
Emergency Response, and Spartan Specialty Vehicles. Today,
its family of brands also include Spartan Authorized Parts, Spartan
Factory Service Centers, Utilimaster®, Strobes-R-Us™, Smeal, Ladder
Tower™, and UST®. Spartan Motors and its go-to-market
brands are well known in their respective industries for quality,
durability, aftermarket product support, and first-to-market
innovation. The Company employs approximately 2,300 associates, and
operates facilities in Michigan,
Indiana, Pennsylvania, South
Carolina, Florida,
Missouri, Nebraska, South
Dakota; Saltillo, Mexico;
and Lima, Peru. Spartan reported
sales of $816 million in 2018.
Learn more about Spartan Motors at www.spartanmotors.com.
This release contains several forward-looking statements that
are not historical facts, including statements concerning our
business, strategic position, financial projections, financial
strength, future plans, objectives, and the performance of our
products and operations. These statements can be identified
by words such as "believe," "expect," "intend," "potential,"
"future," "may," "will," "should," and similar expressions
regarding future expectations. These forward-looking
statements involve various known and unknown risks, uncertainties,
and assumptions that are difficult to predict with regard to
timing, extent, and likelihood. Therefore, actual performance
and results may materially differ from what may be expressed or
forecasted in such forward-looking statements. Factors that could
contribute to these differences include operational and other
complications that may arise affecting the implementation of our
plans and business objectives; continued pressures caused by
economic conditions and the pace and extent of the economic
recovery; challenges that may arise in connection with the
integration of new businesses or assets we acquire or the
disposition of assets; restructuring of our operations, and/or our
expansion into new geographic markets; issues unique to government
contracting, such as competitive bidding processes, qualification
requirements, and delays or changes in funding; disruptions within
our dealer network; changes in our relationships with major
customers, suppliers, or other business partners, including Isuzu;
changes in the demand or supply of products within our markets or
raw materials needed to manufacture those products; and changes in
laws and regulations affecting our business. Other factors
that could affect outcomes are set forth in our Annual Report on
Form 10-K and other filings we make with the Securities and
Exchange Commission (SEC), which are available at
www.sec.gov or our website. All
forward-looking statements in this release are qualified by this
paragraph. Investors should not place undue reliance on
forward-looking statements as a prediction of actual results.
We undertake no obligation to publicly update or revise any
forward-looking statements in this release, whether as a result of
new information, future events, or otherwise.
CONTACT:
Juris Pagrabs
Group Treasurer &
Director of Investor Relations
Spartan Motors, Inc.
517.997.3862
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SOURCE Spartan Motors, Inc.