CHARLOTTE, Mich., April 27, 2012 /PRNewswire/ -- Spartan Motors,
Inc. (NASDAQ: SPAR) today announced that its board of directors has
declared a semi-annual cash dividend of $0.05 per share of common
stock.
The Charlotte, Mich.-based
manufacturer of custom chassis, emergency-rescue and service and
delivery vehicles reported its semi-annual dividend will be payable
on June 14, 2012 to shareholders of
record at the close of business on May
10, 2012.
"The approval of this semi-annual dividend reflects the board's
confidence in the near and long-term future of Spartan's
operations, financial health and strategic direction," said
John Sztykiel, president and chief
executive officer of Spartan Motors. "The board is committed
to providing shareholders a constant return component for their
investment and consistently builds the dividend into its annual
capital plan."
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
ERV™, Crimson Fire Aerials™ and
Utilimaster® - are known for quality, value, 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 $426 million in 2011 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 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; 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 relationship
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.