Spartan Motors Announces Dividend
CHARLOTTE, Mich., Oct. 29, 2013
CHARLOTTE, Mich., Oct. 29, 2013 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ:
SPAR) today announced that its Board of Directors has declared a cash dividend
of $0.05 per share of common stock.
The Charlotte, Mich.-based manufacturer of custom chassis, emergency response
and delivery and service vehicles reported its semi-annual dividend will be
payable on December 19, 2013 to shareholders of record at the close of
business on November 14, 2013.
"Spartan has paid a cash dividend to shareholders since 1993, a record we are
proud to continue. Declaring this dividend demonstrates our Board's
confidence in Spartan's improving operating performance and outlook for growth
in coming years," said John Sztykiel, Chief Executive Officer of Spartan
Motors. "The dividend illustrates our commitment to enhancing shareholder
value and providing shareholders a consistent return on their investment in
About Spartan Motors
Spartan Motors, Inc. designs, engineers and manufactures specialty chassis,
specialty vehicles, truck bodies and aftermarket parts for the recreational
vehicle (RV,) emergency-response, defense, government services, delivery and
service markets. The Company's brand names – Spartan™, Spartan Chassis™,
Spartan ERV™ and Utilimaster® - are known for quality, performance, service
and first-to-market innovation. The Company employs approximately 1,700 at
facilities in Michigan, Pennsylvania, South Dakota, Indiana and Texas. Spartan
reported sales of $471 million in 2012 and is focused on becoming a global
leader in the design, engineering and manufacture of specialty vehicles and
chassis. Visit Spartan Motors at spartanmotors.com.
This release contains several forward-looking statements that are not
historical facts, including statements concerning our business, strategic
position, financial strength, future plans, objectives, and the performance of
our products. 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
assumptionsthat 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.
SOURCE Spartan Motors, Inc.
Contact: Lori Wade, Interim CFO, Spartan Motors, Inc., (517) 543-6400, Greg
Salchow, Director - IR & Treasury, Spartan Motors, Inc., (517) 543-6400
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