“R.itemList.length” “- this.config.text.ariaShown
“This.config.text.ariaFermé”
Announces semi-annual dividends to quarterly dividends
NOVI, Michigan, August 6, 2020 / PRNewswire / – The Shyft Group, Inc., (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in the manufacture, meeting and modernization of specialized automobiles for the commercial, retail and specialty vehicle markets, announced that its Board of Directors approved the replacement in the frequency of payment of its quarterly six-monthly dividend and declared a quarterly monetary dividend of $0.025 consistent with the share.
The Michigan-based manufacturer has announced that its quarterly dividend will be paid on September 18, 2020 to shareholders on August 18, 2020.
“I am pleased to announce, on behalf of The Shyft Group’s Board of Directors, the first quarterly monetary dividend in our company’s history,” said Daryl Adams, president and chief executive officer. “The shift to a quarterly dividend provides our shareholders with more consistent monetary returns and reflects our strong capital position and continued commitment to expanding shareholder value.”
Future dividend yields are subject to board approval and would possibly be adjusted to reflect adjustments in trade desires or market conditions.
About Shyft
Shyft Group is the North American leader in the manufacture, meeting and modernization of specialized cars for the commercial, retail and service specialty vehicle markets. Our customers come with distribution companies from the first to the last kilometer through vocations, federal, state and local government entities; Trades and segments of utilities and infrastructure. Shyft Group is organized into two main business units: Shyft Fleet Vehicles and Services and Shyft Specialty Vehicles. Today, its circle of brand relatives comes with Utilimaster, Royal Truck Body, Strobes-R-Us, Spartan RV Chassis, Builtmore Contract Manufacturing and the corresponding provisions of the secondary market. Shyft Group and its marketing brands are well known in their respective industries for their quality, durability and leading innovation. The Company employs approximately 2,700 affiliates on its campuses and operates services in Michigan, Indiana, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas and Saltillo, Mexico. The company reported earnings of $757 million from its ongoing operations in 2019. Learn more about The Shyft Group at www.TheShyftGroup.com.
Contact:
Juris PagrabsGroup Treasurer The Shyft Group (517) 997-3862
View content: http://www.prnewswire.com/news-releases/the-shyft-group-declares-quarterly-dividend-301107255.html
Source Shyft Group