Savaria increases its dividend by 4.17% to 50 cents a year (4.17 cents a month)
September 16 2021 - 6:45AM
Savaria Corporation (“Savaria”) (TSX: SIS) one of the global
leaders in the accessibility industry, announces today that its
Board of Directors approved an increase to the Corporation’s
monthly dividend, raising it to 4.17 cents ($0.0417) per common
share. On an annual basis, this represents an increase of two cents
($0.02), raising the dividend to 50 cents ($0.50) per share
representing a 4.17% increase. This increase will apply to the
dividends payable monthly starting on October 8, 2021 to
shareholders of record of the Corporation at the close of business
on September 30, 2021. This is an eligible dividend within the
meaning of the Income Tax Act (Canada).
A Word from the President
“In the first six months of 2021 we have
realized $44.7 million in adjusted EBITDA, representing a 66.6%
increase over the same period in 2020 ($26.8 million). I remain
confident in the future growth prospects, profitability and cash
generation potential for Savaria. Our industry is really one that
remains essential to provide equipment for the growing need of
mobility issues and our “Stay at Home with SavariaTM” motto is
something we believe resonates with a worldwide audience. I thank
our employees for their contributions to our success through the
challenges of the pandemic,” concluded Mr. Bourassa.
About Savaria Corporation
Savaria Corporation (savaria.com) is a global
leader in the accessibility industry. It provides accessibility
solutions for the physically challenged to increase their comfort,
their mobility and their independence. Its product line is one of
the most comprehensive on the market. Savaria designs,
manufactures, distributes and installs accessibility equipment,
such as stairlifts for straight and curved stairs, vertical and
inclined wheelchair lifts and elevators for home and commercial
use. It also manufactures and markets a comprehensive selection of
pressure management products for the medical market, medical beds
for the long-term care market, as well as an extensive line of
medical equipment and solutions for the safe handling of patients,
including ceiling lifts and slings. In addition, Savaria converts
and adapts vehicles for personal and commercial uses. The
Corporation operates a sales network of dealers worldwide and
direct sales offices in North America, Europe (UK, The Netherlands,
Switzerland, Italy, Germany, Poland and Czech Republic), Australia
and China. Savaria employs approximately 2,300 people globally and
its plants are located across Canada, the United States, Europe and
China.
For further information: |
Marcel BourassaChairman, President and Chief Executive
Officer1.800.661.5112mbourassa@savaria.com |
Stephen Reitknecht, CPA, CAChief Financial Officer1.800.661.5112,
ext. 3370sreitknecht@savaria.com |
www.savaria.comfacebook.com/savariabettermobilitytwitter.com/Mobilityforlife
Forward-Looking Statements
This press release includes certain statements
that are “forward-looking statements” within the meaning of the
securities laws of Canada. Any statement in this press release that
is not a statement of historical fact may be deemed to be a
forward-looking statement. When used in this press release, the
words “believe”, “could”, “should”, “intend”, “expect”, “estimate”,
“assume” and other similar expressions are generally intended to
identify forward-looking statements. It is important to know that
the forward-looking statements in this document describe the
Corporation’s expectations as at the date hereof, which are not
guarantees of future performance of Savaria or its industry and
involve known and unknown risks and uncertainties that may cause
Savaria’s or the industry’s outlook, actual results or performance
to be materially different from any future results or performance
expressed or implied by such statements. The Corporation’s actual
results could be materially different from its expectations if
known or unknown risks affect its business, or if its estimates or
assumptions turn out to be inaccurate. A change affecting an
assumption can also have an impact on other interrelated
assumptions, which could increase or diminish the effect of the
change. As a result, the Corporation cannot guarantee that any
forward-looking statement will materialize and, accordingly, the
reader is cautioned not to place undue reliance on these
forward-looking statements. Forward-looking statements do not take
into account the effect that transactions or special items
announced or occurring after the statements are made may have on
the Corporation’s business. For example, they do not include the
effect of sales of assets, monetizations, mergers, acquisitions,
other business combinations or transactions, asset write-downs or
other charges announced or occurring after forward-looking
statements are made.
Unless otherwise required by applicable
securities laws, Savaria disclaims any intention or obligation to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise. The
foregoing risks and uncertainties include the risks set forth under
“Risks and Uncertainties” in Savaria’s latest Annual MD&A as
well as other risks detailed from time to time in reports filed by
Savaria with securities regulators in Canada.
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