CHARLOTTE, Mich., April 28, 2005 /PRNewswire-FirstCall via COMTEX/ — Spartan Motors, Inc.
(Nasdaq: SPAR) today announced its board of directors declared its regular
cash dividend of $0.11 per share of common stock.
The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire
truck chassis and emergency-rescue vehicles said the regular cash dividend is
payable on June 14, 2005 to shareholders of record at the close of business on
May 14, 2005.
In October 2004, Spartan raised its regular cash dividend to two bi-annual
payments of $0.11 per share or a total of $0.22 per share. Spartan also
announced its board of directors will make a determination regarding a special
dividend at its October meeting. Spartan has increased its annual dividend
payouts for four straight years and its dividend payout has tripled over the
last four years.
“We remain committed to increasing shareholder value and believe dividends
are a great way to generate an excellent return for our investors,” said John
Sztykiel, chief executive officer of Spartan Motors. “We are optimistic that
positive market trends, the backlog, operational improvements, coupled with
our focus on product and brand differentiation, will lead to a solid return
for our shareholders in 2005.”
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
Jeff Lambert or Ryan McGrath of Lambert, Edwards & Associates, Inc.,
+1-616-233-0500, [email protected] , for Spartan Motors, Inc.