WINNIPEG, March 15, 2019 /CNW/ - (TSX:NFI) NFI Group Inc.
("NFI") today declared a quarterly dividend for the period
January 1, 2019 to March 31, 2019 on the common shares of NFI (the
"Shares") in the amount of C$0.425
per Share to holders of record at the close of business on
March 29, 2019. The dividend
will be payable on April 15,
2019. As announced on March 13,
2019, the board of directors of NFI approved a 13.3%
increase in the annual dividend rate from C$1.50 to C$1.70
per Share.
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 NFI
With over 6,000 team members, operating from
31 facilities across Canada and
the United States, NFI is
North America's largest bus
manufacturer providing a comprehensive suite of mass transportation
solutions under brands: New Flyer® (heavy-duty transit
buses), ARBOC® (low-floor cutaway and medium-duty
buses), MCI® (motor coaches), and NFI Parts™ (parts,
support, and service). NFI buses incorporate the widest range of
drive systems available including: clean diesel, natural gas,
diesel-electric hybrid, and zero-emission electric (trolley,
battery, and fuel cell) on proven bus platforms. In total, NFI
supports over 74,000 buses and coaches currently in service across
North America. For the fiscal year
ended December 30, 2018, NFI posted
revenues of U.S. $2.5 billion.
NFI common shares are traded on the Toronto Stock Exchange under
the symbol NFI. News and information are available at
www.nfigroup.com.
Forward-Looking Statements
This press release may
contain forward-looking statements relating to expected future
events and financial and operating results of NFI 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 under NFI's credit
facility could impact the ability of NFI 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, NFI 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 NFI Group Inc.