CHARLOTTE, Mich., Oct. 26 /PRNewswire-FirstCall/ — Spartan Motors, Inc.
(Nasdaq: SPAR) today announced its board of directors declared a special
dividend of $0.05 per share of common stock. As announced in April 2006,
Spartan will also pay its second regular cash dividend of $0.11 per share, for
total dividend payments of $0.27 per share in 2006.
The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire
truck chassis and emergency-rescue vehicles said the regular and special cash
dividends are payable on Dec. 15, 2006 to shareholders of record at the close
of business on Nov. 15, 2006. Spartan has been paying bi-annual regular cash
dividends since 2003 and special dividends since 1989. In 2005, Spartan’s
total dividends were $0.26 per share
“We see both our regular and special dividends as an important form of
sharing profits with our investors,” said John Sztykiel, president and CEO of
Spartan Motors. “Our increase in total dividends also reflects the Board’s
confidence in Spartan’s growth as they look to the future.”
About Spartan Motors
Spartan Motors, Inc. (theshyftgroup.com) designs, engineers and
manufactures custom chassis and vehicles for the recreational vehicle, fire
truck, ambulance, emergency-rescue and specialty vehicle markets. The
Company’s brand names — Spartan(TM), Crimson Fire(TM), Crimson Fire
Aerials(TM), and Road Rescue(TM) — are known for quality, value, service and
being the first to market with innovative products. The Company employs
approximately 900 at facilities in Michigan, Pennsylvania, South Carolina, and
South Dakota. Spartan reported sales of $343.0 million in 2005 and is focused
on becoming the premier manufacturer of specialty vehicles and chassis in
North America.
This release contains forward-looking statements, including, without
limitation, statements concerning our business, future plans and objectives
and the performance of our products. These forward-looking statements involve
certain risks and uncertainties that ultimately may not prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such statements. Technical complications may arise that could
prevent the prompt implementation of the plans outlined above. The company
cautions that these forward-looking statements are further qualified by other
factors including, but not limited to, those set forth in the company’s Annual
Report on Form 10-K filing and other filings with the United States Securities
and Exchange Commission (available at http://www.sec.gov). Government
contracts and subcontracts typically involve long payment and purchase cycles,
competitive bidding, qualification requirements, delays or changes in funding,
extensive specification development and changes, price negotiations and
milestone requirements. An announced award of a governmental contract is not
equivalent to a finalized executed contract and does not assure that orders
will be issued and filled. Government agencies also often retain some portion
of fees payable upon completion of a project and collection of contract fees
may be delayed for long periods, which can negatively impact both prime
contractors and subcontractors. The company undertakes no obligation to
publicly update or revise any statements in this release, whether as a result
of new information, future events or otherwise, except as required by law.
SOURCE Spartan Motors, Inc.
CONTACT: John Sztykiel, CEO, or Jim Knapp, CFO, of Spartan Motors, Inc.,
+1-517-543-6400; or Ryan McGrath or Jeff Lambert, Lambert, Edwards &
Associates, Inc., +1-616-233-0500, or [email protected]
Web site: https://theshyftgroup.com