Laval, Quebec, March 12, 2014– Savaria Corporation (TSX: SIS), North America’s leader in the accessibility industry, announced today that it is changing its dividend policy so that the amount declared quarterly will now be 3.5 cents ($0.035) per common share without adjustment at year-end.
A Word from the President
"Our confidence in our ability to generate cash flow in the upcoming years enables us to change our quarterly dividend policy, increasing it from 2 cents to 3.5 cents per share", declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
Savaria Corporation (savaria.com) is North America's leader in the accessibility industry focused on meeting the needs of people with mobility challenges. Savaria designs, manufactures, installs and distributes primarily elevators for home and commercial use, as well as stairlifts and vertical and inclined platform lifts. In addition, it 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 some 60% of its revenue outside Canada, primarily in the United States. It has a sales network of some 600 retailers in North America and employs some 360 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).
Forward looking statements
Certain statements may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.
For more information, please contact:
Helene Bernier, CA
1-800-931-5655, ext. 248
Chairman of the Board, President and
Chief Executive Officer