CHARLOTTE, Mich., April 27, 2006 /PRNewswire-FirstCall via COMTEX News Network/ — Spartan Motors, Inc.
(Nasdaq: SPAR) today announced its board of directors declared regular cash
dividends of $0.22 per share of common stock for 2006.
The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire
truck chassis and emergency-rescue vehicles said the regular cash dividend of
$0.11 per share is payable on June 15, 2006 to shareholders of record at the
close of business on May 15, 2006, and $0.11 is also payable on Dec. 15, 2006
to shareholders of record at the close of business on Nov. 15, 2006.
Spartan also announced its board of directors will make a determination at
its October meeting regarding a special dividend for 2006. 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 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 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, both of Spartan Motors, Inc., +1-517-543-6400;
or Ryan McGrath, [email protected], or Jeff Lambert, both of Lambert,
Edwards & Associates, Inc., +1-616-233-0500