The Auto Channel
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Spartan Motors Announces Second Regular Cash Dividend Payment for 2008


PHOTO (select to view enlarged photo)

CHARLOTTE, Mich., October 23, 2008: Spartan Motors, Inc. today announced its regular dividend payment of $0.05 per common share, payable on Dec. 17, 2008 to shareholders of record at the close of business on Nov. 17, 2008.

In April 2008, the board of directors for the Charlotte, Mich.-based manufacturer of custom chassis and emergency-rescue vehicles declared total regular cash dividends of $0.10 per share of common stock for the year, issued in two payments. The company issued the first dividend payment of $0.05 per share on June 16, 2008. Spartan expects to consider a special dividend at the board meeting scheduled for February 2009.

"We continue to believe a dividend is a great way to share profits with our investors," said John Sztykiel, president and chief executive officer of Spartan Motors. "Our 2008 results have already exceeded all of 2007, and dividends confirm our long-term confidence in Spartan, as well as our financial strength."