Spartan Motors Announces Dividend
19 February 2010 - 12:20AM
PR Newswire (US)
CHARLOTTE, Mich., Feb. 18 /PRNewswire-FirstCall/ -- Spartan Motors,
Inc. (NASDAQ:SPAR) today announced that its board of directors has
declared its semi-annual cash dividend of $0.05 per share of common
stock. The Charlotte, Mich.-based manufacturer of custom chassis
and emergency-rescue vehicles reported its semi-annual dividends
will be payable on June 10, 2010 to shareholders of record at the
close of business on May 13, 2010. "The declaration of this
semi-annual dividend reflects our solid financial position and
total financial performance for 2009," said John Sztykiel,
president and chief executive officer of Spartan Motors. "Our
dividend is also an indication of the board's confidence in our
future growth and strategic direction, and provides an important
form of return for our investors that sets Spartan apart from other
companies our size." About Spartan Motors, Inc. Spartan Motors,
Inc. (NASDAQ:SPAR) designs, engineers and manufactures specialty
chassis, specialty vehicles and truck bodies and aftermarket parts
for the outdoor recreation/RV, emergency-response, defense,
delivery and service markets. The company's brand names -
Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), Road
Rescue(TM) and Utilimaster® - are known for quality, value, service
and being the first to market with innovative products. The company
employs approximately 1,600 at facilities in Michigan,
Pennsylvania, South Carolina, South Dakota, Indiana and Texas.
Spartan reported sales of $430 million in 2009 and is focused on
becoming a global leader in the manufacture of specialty vehicles
and chassis. This release contains forward-looking statements,
including, without limitation, statements concerning our business,
future plans and objectives and the performance of our products. .
Forward looking statements are identifiable by words such as
"believe," "expect," and "sustain." 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.
All dividends are considered and declared by the board of directors
in their discretion. 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. DATASOURCE: Spartan Motors,
Inc. CONTACT: John Sztykiel, CEO, or Joseph Nowicki, CFO, Spartan
Motors, Inc., +1-517-543-6400; or Jeff Lambert or Jeff Tryka, CFA ,
Lambert, Edwards & Associates, +1-616-233-0500, Web Site:
http://www.spartanmotors.com/
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