NOVI, Mich., May 8, 2020 /PRNewswire/ -- Spartan
Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), a
North American leader in specialty vehicle manufacturing and
assembly for the commercial and retail vehicle industries, as well
as for the 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
June 18, 2020, to shareholders of
record at the close of business on May
18, 2020.
"I'm pleased to announce, on behalf of Spartan
Motors' Board of Directors, our semi-annual cash dividend of
$0.05," said Daryl Adams, President and Chief Executive
Officer. "The dividend announced today reflects our strong capital
position, confidence in our business strategy and our continued
commitment to enhance shareholder value even in today's uncertain
climate due to COVID-19."
About Spartan Motors
Spartan Motors, Inc. is a 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 markets),
as well as for recreational vehicle markets. The Company is
organized into two core business segments: Spartan Fleet Vehicles
and Services and Spartan Specialty Chassis and Vehicles. Today, its
family of brands also include Utilimaster, Royal Truck Body,
Strobes-R-Us, Spartan Chassis, Spartan Authorized Parts, Spartan
Authorized Service Centers, and Spartan Factory Service Centers.
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 2,700 associates, and operates facilities in
Michigan, Indiana, Pennsylvania, South
Carolina, Florida,
Missouri, California, Arizona, Texas, and Saltillo,
Mexico. Spartan reported sales from continuing operations of
$757 million in 2019. 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. Furthermore, statements
contained in this document relating to the recent global outbreak
of the novel coronavirus disease (COVID-19), the impact of which
remains inherently uncertain on our financial results, are
forward-looking statements. 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 future developments
relating to the COVID-19 pandemic, including governmental
responses, supply chain shortages, and potential labor issues;
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.