In addition, the Company announced a cash dividend on its outstanding Class A and Class B Common Stock. This cash dividend represents the first of what the Company intends to be a continuing series of quarterly cash dividends, business conditions permitting. Stockholders of record as of October 16, 2003 (the stock dividend payment date), will receive two and one-half cents ($0.025) for each share owned on that date, payable on October 24, 2003. The record date for the cash dividend has been set so as to ensure that recipients of the 10% stock dividend will receive the benefit of the $0.025 cash dividend.
As of September 22, 2003, Supreme Industries had 10,827,706 shares of Common Stock outstanding consisting of 8,910,312 shares of Class A Common Stock and 1,917,394 shares of Class B Common Stock.
The Company stated that these stock and cash dividends are made in recognition of Supreme Industries' continuing growth and favorable long-term outlook.
Supreme Industries, Inc., is a nationwide manufacturer of specialized truck bodies that are produced to the specifications of its customers. Supreme also manufactures the StarTrans(R) line of special-purpose "shuttle-type" buses. The Company's transportation equipment products are used by a wide variety of industrial and commercial customers.
This press release contains forward-looking statements, other than historical facts, that reflect the view of the Company's management with respect to future events. Although management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that the expectations reflected in such forward-looking statments are reasonable, and it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from such expectations include, without limitation, limitations on the availability of chassis on which the Company's product is dependent, availability of raw materials, and severe interest rate increases. The Company assumes no obligation to update the forward-looking statements or to update the reasons actual results could differ from those contemplated by such forward-looking statements.