Spartan Motors, Inc. today announced its board of directors declared a special dividend of $0.05 per share of common stock. As announced in April 2006, Spartan will also pay its second regular cash dividend of $0.11 per share, for total dividend payments of $0.27 per share in 2006.

The Charlotte, Mich.-based manufacturer of custom motorhome chassis, fire truck chassis and emergency-rescue vehicles said the regular and special cash dividends are payable on Dec. 15, 2006 to shareholders of record at the close of business on Nov. 15, 2006. Spartan has been paying bi-annual regular cash dividends since 2003 and special dividends since 1989. In 2005, Spartan's total dividends were $0.26 per share

"We see both our regular and special dividends as an important form of sharing profits with our investors," said John Sztykiel, president and CEO of Spartan Motors. "Our increase in total dividends also reflects the Board's confidence in Spartan's growth as they look to the future."

About Spartan Motors

Spartan Motors, Inc. designs, engineers and manufactures custom chassis and vehicles for the recreational vehicle, fire truck, ambulance, emergency-rescue and specialty vehicle markets. The Company's brand names -- Spartan(TM), Crimson Fire(TM), Crimson Fire Aerials(TM), and Road Rescue(TM) -- are known for quality, value, service and being the first to market with innovative products. The Company employs approximately 900 at facilities in Michigan, Pennsylvania, South Carolina, and South Dakota. Spartan reported sales of $343.0 million in 2005 and is focused on becoming the premier manufacturer of specialty vehicles and chassis in North America.

This release contains forward-looking statements, including, without limitation, statements concerning our business, future plans and objectives and the performance of our products. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Technical complications may arise that could prevent the prompt implementation of the plans outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Annual Report on Form 10-K filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov). Government contracts and subcontracts typically involve long payment and purchase cycles, competitive bidding, qualification requirements, delays or changes in funding, extensive specification development and changes, price negotiations and milestone requirements. An announced award of a governmental contract is not equivalent to a finalized executed contract and does not assure that orders will be issued and filled. Government agencies also often retain some portion of fees payable upon completion of a project and collection of contract fees may be delayed for long periods, which can negatively impact both prime contractors and subcontractors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise, except as required by law.


Source : http://www.automotive.com (10/26/2006)