September 15, 2016 16:00 ET
LAVAL, QUEBEC--(Marketwired - Sept. 15, 2016) - Savaria Corporation (TSX:SIS) ("Savaria" or the "Company"), one of North America's leaders in the accessibility industry, announced today that its Board of Directors approved a 30% increase to the Company's quarterly dividend, raising it from 5 cents ($0.05) per share to 6.5 cents ($0.065) per share, resulting in an annual dividend of 26 cents ($0.26) per common share.
A Word from the President
"Our excellent performance in the current year, coupled with our recent acquisition of the automotive division of Shoppers Home Health Care and the forthcoming introduction of our new ceiling lift, reinforces our confidence in our ability to generate cash flow, enabling us to increase our quarterly dividend from 5 cents to 6.5 cents per share," declared Marcel Bourassa, President and Chief Executive Officer of Savaria.
Savaria Corporation (savaria.com) is one of North America's leaders in the accessibility industry. It provides accessibility solutions for the elderly and physically challenged to increase their mobility and independence. The diversity of 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, as well as elevators for home and commercial use. In addition, it converts and adapts vehicles to be wheelchair accessible. It also operates a network of franchisees and corporate stores through which new and recycled accessibility equipment is sold, as well as vehicle conversion in certain locations. Savaria operates a plant located in Huizhou (China), which increases its competitive edge. The Corporation records more than 60% of its revenue outside Canada, primarily in the United States. It operates a sales network of some 400 retailers and affiliates in North America and employs some 500 people. Its principal places of business are located in Laval (Quebec), Brampton (Ontario) and Huizhou (China).
Savaria CorporationHelene Bernier, CPA, CAVice President, Finance1-800-931-5655, ext. firstname.lastname@example.orgSavaria CorporationMarcel BourassaPresident and Chief Executive Officer1email@example.com
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