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The Shyft Group Announces Cash Dividend for Shareholders

Specialty vehicle manufacturing at The Shyft Group

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News Summary

The Shyft Group, a leading manufacturer of specialty vehicles based in Southfield, Michigan, has announced a cash dividend of $0.05 per share for its shareholders. The dividend will be payable on March 28, 2025, and shareholders must own shares by February 27, 2025, to qualify. With impressive sales of $872 million in 2023 and a growing specialty vehicle market, the company shows promising growth and a commitment to rewarding its stockholders.

Exciting News from The Shyft Group!

In the bustling city of Southfield, Michigan, The Shyft Group, Inc. has just announced a delightful surprise for its shareholders! This leading manufacturer and assembler of specialty vehicles is set to reward its loyal stockholders with a cash dividend of $0.05 per share of common stock. Isn’t that fantastic news?

Mark Your Calendars!

If you hold shares of The Shyft Group’s common stock, make sure to note the important dates coming up. The dividend will be payable on March 28, 2025. To qualify for this cash bonus, shareholders need to own shares by the close of business on February 27, 2025. It’s a great opportunity for those who have been invested in the company and a little extra perk for patiently waiting!

The Shyft Group’s Thriving Business

The Shyft Group isn’t just handing out dividends, it’s riding high on the wave of growth in the specialty vehicle market! With impressive sales of $872 million in 2023, the company is clearly doing something right. They specialize in manufacturing, assembly, and upfit services aimed at commercial, retail, and service specialty vehicle markets, making it a key player in this niche sector.

They operate under several well-known brands, including Utilimaster®, Blue Arc™ EV Solutions, and Royal® Truck Body. These brands cater to a wide array of customers, from delivery companies and government entities to utility and infrastructure segments, showcasing the versatility and demand for their vehicles.

Meet the Team Behind the Success

The Shyft Group is not just about numbers; it’s about the people behind the operations too. The company employs around 3,000 employees and contractors, all working hard across various facilities in states like Arizona, California, Florida, Indiana, Iowa, Maine, Michigan, Missouri, Pennsylvania, Tennessee, and Texas. They even have operations sprouting in Saltillo, Mexico. This wide reaching footprint is a testament to their robust operational capacity and commitment to excellence!

Core Business Units

To streamline their operations, The Shyft Group is organized into two main business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. Each unit addresses different aspects of the specialty vehicle market while ensuring quality and customer satisfaction. They’re recognized for their quality, durability, and the ability to bring innovations to the market first, setting them apart from competitors.

The Road Ahead

The future appears bright for The Shyft Group! With the specialty vehicle market continuing to grow and a solid dividend announcement to reward shareholders, there’s a lot to be excited about. The company’s strategic focus on providing top-notch products and services ensures they remain a leader in the industry.

So, whether you’re a current shareholder or considering becoming one, it’s worth keeping an eye on The Shyft Group. They are an inspiring example of how a company can thrive while bringing value to its stakeholders. Cheers to continued growth and prosperity!