Spartan Motors to Pay Regular Dividend, Declares Special Dividend
October 26 2006 - 8:46AM
PR Newswire (US)
CHARLOTTE, Mich., Oct. 26 /PRNewswire-FirstCall/ -- Spartan Motors,
Inc. (NASDAQ:SPAR) today announced its board of directors declared
a special dividend of $0.05 per share of common stock. As announced
in April 2006, Spartan will also pay its second regular cash
dividend of $0.11 per share, for total dividend payments of $0.27
per share in 2006. The Charlotte, Mich.-based manufacturer of
custom motorhome chassis, fire truck chassis and emergency-rescue
vehicles said the regular and special cash dividends are payable on
Dec. 15, 2006 to shareholders of record at the close of business on
Nov. 15, 2006. Spartan has been paying bi-annual regular cash
dividends since 2003 and special dividends since 1989. In 2005,
Spartan's total dividends were $0.26 per share "We see both our
regular and special dividends as an important form of sharing
profits with our investors," said John Sztykiel, president and CEO
of Spartan Motors. "Our increase in total dividends also reflects
the Board's confidence in Spartan's growth as they look to the
future." About Spartan Motors Spartan Motors, Inc.
(http://www.spartanmotors.com/) designs, engineers and manufactures
custom chassis and vehicles for the recreational vehicle, fire
truck, ambulance, emergency-rescue and specialty vehicle markets.
The Company's brand names -- Spartan(TM), Crimson Fire(TM), Crimson
Fire Aerials(TM), and Road Rescue(TM) -- are known for quality,
value, service and being the first to market with innovative
products. The Company employs approximately 900 at facilities in
Michigan, Pennsylvania, South Carolina, and South Dakota. Spartan
reported sales of $343.0 million in 2005 and is focused on becoming
the premier manufacturer of specialty vehicles and chassis in North
America. This release contains forward-looking statements,
including, without limitation, statements concerning our business,
future plans and objectives and the performance of our products.
These forward-looking statements involve certain risks and
uncertainties that ultimately may not prove to be accurate. Actual
results and future events could differ materially from those
anticipated in such statements. Technical complications may arise
that could prevent the prompt implementation of the plans outlined
above. The company cautions that these forward-looking statements
are further qualified by other factors including, but not limited
to, those set forth in the company's Annual Report on Form 10-K
filing and other filings with the United States Securities and
Exchange Commission (available at http://www.sec.gov/). Government
contracts and subcontracts typically involve long payment and
purchase cycles, competitive bidding, qualification requirements,
delays or changes in funding, extensive specification development
and changes, price negotiations and milestone requirements. An
announced award of a governmental contract is not equivalent to a
finalized executed contract and does not assure that orders will be
issued and filled. Government agencies also often retain some
portion of fees payable upon completion of a project and collection
of contract fees may be delayed for long periods, which can
negatively impact both prime contractors and subcontractors. The
company undertakes no obligation to publicly update or revise any
statements in this release, whether as a result of new information,
future events or otherwise, except as required by law. DATASOURCE:
Spartan Motors, Inc. CONTACT: John Sztykiel, CEO, or Jim Knapp,
CFO, of Spartan Motors, Inc., +1-517-543-6400; or Ryan McGrath or
Jeff Lambert, Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, or Web site: http://www.spartanmotors.com/
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