The Shyft Group Announces Quarterly Dividend

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May 07, 2021, 09:45 ET

NOVI, Mich., May 7, 2021 /PRNewswire/ -- The Shyft Group, Inc., (NASDAQ: SHYF) ("Shyft" or the "Company"), North America's leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors declared a cash dividend of $0.025 per share of common stock.

The Michigan-based manufacturer reported that its quarterly dividend will be payable on or before June 18, 2021, to shareholders of record at the close of business on May 18, 2021.

"On behalf of The Shyft Group's Board of Directors, I am pleased to announce the declaration of our regular quarterly dividend – a practice we have been proud to continue since 1993," said Daryl Adams, President and Chief Executive Officer. "This dividend payment reflects the Board's strong commitment to returning cash to our shareholders while simultaneously reinvesting in the business to support our growth."

About The Shyft Group
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles & Services and Shyft Specialty Vehicles. Today, its companies include Utilimaster, Royal Truck Body, DuraMag and Magnum, Strobes-R-Us, Spartan RV Chassis, Builtmore Contract Manufacturing, and corresponding aftermarket provisions. The Shyft Group companies are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 3,000 associates across campuses, and operates facilities in Michigan, Indiana, Maine, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas, and Saltillo, Mexico. The Company reported sales from continuing operations of $676 million in 2020. Learn more about The Shyft Group at www.TheShyftGroup.com.