CHARLOTTE, Mich., Nov. 4, 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 (including last-mile
delivery, specialty service, and vocation-specific upfit segments),
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 Michigan-based manufacturer
reported that its semi-annual dividend will be payable on or before
December 16, 2019, to shareholders of
record at the close of business on November
14, 2019.
"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 to returning cash to our
shareholders reflects the Board's confidence in Spartan's long-term
strategic objectives which will continue to enhance shareholder
value."
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: 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,
Royal Truck Body, 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 2,500 associates, and operates facilities in
Michigan, Indiana, Pennsylvania, South
Carolina, Florida,
Missouri, California, Arizona, Texas, 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.