WINNIPEG, Sept. 15, 2016 /CNW/ - (TSX:NFI) (TSX:NFI.DB.U)
New Flyer Industries Inc. (the "Company") today declared a
quarterly dividend for the period July 1,
2016 to September 30, 2016 on
the common shares of the Company (the "Shares") in the amount of
C$0.2375 per Share to holders of
record at the close of business on September
30, 2016. The dividend will be payable on October 17, 2016.
The dividends on the Shares are designated as "eligible
dividends" for purposes of the enhanced dividend tax credit rules
contained in the Income Tax Act (Canada) and any corresponding provincial and
territorial tax legislation.
About the Company
The Company is the largest transit
bus, motor coach manufacturer and parts distributor in North America with fabrication, manufacturing,
distribution and service centers in Canada and the
United States and employs approximately 5,000 team
members.
Through its Canadian and U.S. subsidiaries, New Flyer Industries
Canada ULC and New Flyer of America Inc., the Company is
North America's heavy-duty transit
bus leader and offers the broadest transit bus product line
(Xcelsior® and MiDi® models), incorporating
the broadest range of drive systems available, including: clean
diesel, natural gas, diesel-electric hybrid, electric-trolley and
now battery-electric. The Company actively supports over 42,000
heavy-duty transit buses (New Flyer, NABI and Orion) currently in
service.
Through its Canadian and U.S. subsidiaries, Motor Coach
Industries Limited and Motor Coach Industries, Inc., the Company is
North America's leader in motor
coaches, offering the MCI J4500, which is the industry's
best-selling intercity coach for 11 consecutive years, and the MCI
D-Series, the industry`s best-selling coach line in North American
motor coach history. MCI is also the exclusive distributor of Setra
S417 and S407 in the United States
and Canada. MCI actively supports
over 28,000 motor coaches currently in service and offers 24-hour
roadside assistance 365 days a year.
The Company also operates North
America's most comprehensive aftermarket parts organization
providing support for all types of transit buses and motor coaches.
All buses and coaches are supported by an industry-leading
comprehensive warranty, service and support network.
Further information is available on the Company's websites at
www.newflyer.com and www.mcicoach.com. The Shares and convertible
unsecured subordinated debentures of the Company are traded on the
Toronto Stock Exchange under the symbols NFI and NFI.DB.U,
respectively.
Forward-Looking Statements
This press release may
contain forward-looking statements relating to expected future
events and financial and operating results of the Company that
involve risks and uncertainties. Actual results may differ
materially from management expectations as projected in such
forward-looking statements for a variety of reasons, including
market and general economic conditions, the covenants contained in
the Company's senior credit facility could impact the ability of
the Company to fund dividends and the other risks and uncertainties
detailed in the disclosure documents filed with the Canadian
securities regulatory authorities and available on SEDAR at
www.sedar.com. Due to the potential impact of these factors,
the Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by
applicable law.
SOURCE New Flyer Industries Inc.