News Summary
The Shyft Group, Inc. has announced a cash dividend of $0.05 per share for its common stock, scheduled to be paid on June 16, 2025. Shareholders must be on record by May 16, 2025, to qualify for this payout. The company, a leader in specialty vehicle manufacturing, operates primarily through Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. With significant sales growth and ongoing merger integration planning, Shyft aims to enhance its market presence while providing value to its investors.
Novi, Michigan – The Shyft Group, Inc. (NASDAQ: SHYF) has announced a cash dividend of $0.05 per share of common stock, which is set to be paid on June 16, 2025. Shareholders will need to be on record as owning shares by May 16, 2025, to qualify for this dividend payout.
The Shyft Group is recognized as a leader in specialty vehicle manufacturing, assembly, and upfitting services tailored for commercial, retail, and service specialty vehicle markets. The company serves an array of sectors including delivery services, government entities, and utility companies, demonstrating its versatility within the industry.
Shyft Group operates through two primary business divisions: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. Their extensive brand lineup comprises names like Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag®, Magnum®, Strobes-R-Us, Spartan® RV Chassis, Builtmore Contract Manufacturing™, and Independent Truck Upfitters.
With a workforce of approximately 2,900 employees and contractors distributed across its operational sites in the United States and Saltillo, Mexico, the Shyft Group is well-equipped to meet the demands of its markets. In 2024, the company reported sales totaling $786 million, reflecting a year-over-year increase of 3.4%. This growth is bolstered by a strong balance sheet, showcasing a net leverage ratio of less than 2.0x.
Additionally, the Shyft Group is currently engaged in merger integration planning with Aebi Schmidt, which is projected to finalize by mid-2025. This step is part of the company’s strategy to enhance its capabilities and market reach.
Shyft Group’s commitment to quality, durability, and innovation has garnered recognition in its respective industries, making it a prominent entity in specialty vehicle markets. Stakeholders and potential investors can find more information regarding the company’s operations and future prospects on their official website.
For further inquiries related to corporate communications, Sydney Machesky serves as the Director, while Randy Wilson acts as the Vice President of Investor Relations and Treasury. Contact information for both officials is available for those requiring additional details.
The announcement highlights the Shyft Group’s ongoing efforts to provide value to its shareholders while maintaining its trajectory of growth and industry leadership.
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Additional Resources
- Quantisnow: The Shyft Group Announces Quarterly Dividend
- Wikipedia: The Shyft Group
- CT Post: The Shyft Group Q1 Earnings Snapshot
- Google Search: The Shyft Group
- RV Business: The Shyft Group Highlights Several First Quarter Increases
- Google Scholar: The Shyft Group
- DBusiness: The Shyft Group in Novi Advances Merger Plans
- Encyclopedia Britannica: The Shyft Group
- Record Eagle: The Shyft Group Q1 Earnings Snapshot
- Google News: The Shyft Group
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