Spartan Motors Inc., parent to Spartan Chassis Inc., announced that its board has declared a cash dividend of 5 cents per share of common stock.
The Charlotte, Mich.-based manufacturer of custom chassis, emergency response and delivery and service vehicles reported its semi-annual dividend will be payable on June 27 to shareholders of record at the close of business on May 23.
“The approval of this semi-annual dividend reflects the board’s confidence in Spartan’s operations, financial strength and strategic direction. This marks the 20th consecutive year that Spartan has paid a cash dividend to shareholders, a record we are very proud of,” said John Sztykiel, CEO of Spartan Motors. “The board is committed to providing shareholders a consistent return component for their investment and builds the dividend into its annual capital plan.”
Spartan Motors on Wednesday (May 8) reported a net loss for its first quarter on a 19% decline in sales.