CHARLOTTE, Mich., Nov 07, 2005 /PRNewswire-FirstCall via COMTEX News Network/ — Spartan Motors, Inc.
(Nasdaq: SPAR) today announced its board of directors declared a special
dividend of $0.04 per share of common stock. As announced in April 2005,
Spartan will also pay its second regular cash dividend of $0.11 per share, for
total dividend payments of $0.26 in 2005.
The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire
truck chassis and emergency-rescue vehicles said the regular and special cash
dividend is payable on Dec. 15, 2005 to shareholders of record at the close of
business on Nov. 15, 2005.
Spartan raised its regular cash dividend a year ago to two bi-annual
payments of $0.11 per share or a total of $0.22 per share. Spartan has been
paying bi-annual regular cash dividends since 2003 and special dividends for
16 years, and its total dividend payout has more than tripled over the last
four years.
“We continue to believe dividends are a great way to generate an excellent
return for our investors, and see special dividends as way to further share
profits with our investors,” said John Sztykiel, chief executive officer of
Spartan Motors. “At the same time, our dividends reflect the Board’s
confidence in Spartan’s 2005 results, and also our expected top- and bottom-
line growth in 2006.”
About Spartan Motors
Spartan Motors, Inc. (https://theshyftgroup.com ) designs, engineers
and manufactures custom chassis and vehicles for the recreational vehicle,
fire truck, ambulance and emergency-rescue markets. The Company’s brand names
— Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road
Rescue(TM) — are known in their market niches for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Alabama, Pennsylvania, South
Carolina, and South Dakota. Spartan Motors is publicly traded on The Nasdaq
Stock Market under the ticker symbol SPAR.
The statements contained in this news release include certain predictions
and projections that may be considered “forward-looking statements” under the
securities laws. These forward-looking statements are identifiable by words
or phrases indicating that the Company or management “expects,” “believes” or
is “confident” that a particular result “may” or “should” occur, that a
particular item “bodes well,” that the Company “looks forward” to a particular
result, or similar statements. These statements involve many risks and
uncertainties that could cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company’s operations, markets, products, services and
prices. Accounting estimates are inherently forward-looking. Additional
information about these and other factors that may adversely affect these
forward-looking statements are contained in the Company’s reports and filings
with the Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any forward-looking statements to reflect
developments or information obtained after the date of this news release.
SOURCE Spartan Motors, Inc.
John Sztykiel, CEO, or Jim Knapp, CFO, of Spartan Motors, Inc., +1-517-543-6400; Jeff
Lambert or Ryan McGrath of Lambert, Edwards & Associates, Inc., +1-616-233-0500,
[email protected] , for Spartan Motors, Inc.