CHARLOTTE, Mich., Nov. 2, 2017 /PRNewswire/ -- Spartan Motors,
Inc. (NASDAQ: SPAR), a global leader in specialty chassis and
vehicle design, manufacturing and assembly, today announced that
its Board of Directors declared a cash dividend of $0.05 per share of common
stock.
The Charlotte, Mich.-based
manufacturer of custom chassis, emergency response, and delivery
and service vehicles reported that its semi-annual dividend will be
payable on or before Dec. 15, 2017,
to shareholders of record at the close of business on Nov. 15, 2017.
"On behalf of Spartan Motors' Board of Directors, I am pleased
to announce the declaration of this semi-annual dividend – a
practice we have been proud to continue since 1993," said
Daryl Adams, Chief Executive Officer
of Spartan Motors. "This commitment reflects the Board's
confidence in Spartan's long-term strategic objectives driven by
sales growth and operational performance."
About Spartan Motors
Spartan Motors, Inc. is a leading designer, engineer,
manufacturer and marketer of a broad range of specialty vehicles,
specialty chassis, vehicle bodies and parts for the fleet and
delivery, recreational vehicle (RV), emergency response, defense
forces and contract assembly (light/medium duty truck) markets. The
Company's brand names — Spartan Motors, Spartan Specialty Vehicles,
Spartan Emergency Response, Spartan Parts and Accessories; Smeal®
and its family of brands, including Ladder Tower™ and UST®; and
Utilimaster®, a Spartan Motors Company — are known for quality,
durability, performance, customer service and first-to-market
innovation. The Company employs approximately 2,200 associates and
operates facilities in Michigan,
Indiana, Pennsylvania, Missouri, Wisconsin, Nebraska, South
Dakota; Saltillo, Mexico;
and Lima, Peru. Spartan reported
sales of $591 million in 2016. Visit
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.
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SOURCE Spartan Motors, Inc.