Laval, Quebec, September 14, 2015– Savaria Corporation (TSX: SIS), one of the North America’s leaders in the accessibility industry, announced today that its Board of Directors approved a 25% dividend increase, raising it from 16 cents ($0.16) per year to 20 cents ($0.20), resulting in a quarterly dividend of five cents ($0.05) per common share.
A Word from the President
"Our excellent performance in the current year and our forecast for 2016 reinforce our confidence in our ability to generate cash flow, enabling us to increase our quarterly dividend from 4 cents to 5 cents per share," declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
Savaria Corporation (savaria.com) is one of the North America's leaders in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, distributes and installs primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. With the acquisition of Silver Cross, the Corporation now operates a lead generation program to capture and distribute leads on potential customers to close to 100 affiliates in North America; also, it is a franchisor of stores through which new and recycled accessibility equipment is sold. In addition, Savaria converts and adapts minivans to be wheelchair accessible. The diversity of its product line, one of the world’s most comprehensive, enables the Corporation to stand out by proposing an integrated and customized solution for its customers’ mobility needs. Its operations in China have substantially grown and the collaboration with Savaria’s other Canadian facilities increases its competitive edge in the market place. The Corporation records more than 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 active retailers and affiliates in North America and employs some 430 people at its head office in Laval and at its plants and sales offices in Montreal (Quebec), Brampton and London (Ontario), Calgary (Alberta) and Huizhou (China).
For more information, please contact:
Hélène Bernier, CPA, CA
1-800-931-5655, ext. 248
President and Chief Executive Officer