CHARLOTTE, Mich., Nov. 1, 2018 /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, Michigan-based
manufacturer of custom chassis, emergency response, and delivery
and service vehicles reported that its semi-annual dividend will be
payable on or before December 14,
2018, to shareholders of record at the close of business on
November 14, 2018.
"On behalf of Spartan Motors' Board of Directors, I am pleased
to announce the declaration of this semi-annual dividend, as it
reflects the Board's confidence in Spartan's long-term strategic
objectives," said Daryl Adams,
President and Chief Executive Officer of Spartan Motors.
"Spartan Motors has been committed to returning cash to our
shareholders since we began paying a dividend in 1993, a practice
we are proud to continue with this latest announcement."
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 2,300
associates, and operates facilities in Michigan, Indiana, Pennsylvania, Missouri, Nebraska, South
Carolina, South Dakota;
Saltillo, Mexico; and Lima, Peru. Spartan reported sales of
$707 million in 2017. 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.
CONTACT:
Juris Pagrabs
Group Treasurer &
Director of Investor Relations
Spartan Motors, Inc.
517.997.3862
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SOURCE Spartan Motors, Inc.