Savaria Corporation Boosts Dividend Amid Strong Financial Growth
Savaria Corporation Announces a Dividend Increase
Quebec-based Savaria Corporation (TSX: SIS) is making headlines with its recent decision to raise its monthly dividend to 4.67 cents per common share. This adjustment marks a significant improvement, translating to an annual increase of 3.7% or an additional two cents per share. Shareholders can expect to see this change reflected in their dividends payable starting on a designated date, ensuring they reap the benefits of the company’s strong financial performance.
A Message from Leadership
Marcel Bourassa, the Executive Chairman of Savaria, shared insights on this decision, attributing the dividend increase to the company’s performance in recent financial periods. He expressed a strong belief in the ongoing profitability of the business, alongside a commitment to retaining financial flexibility. Bourassa noted that this move not only demonstrates confidence in sustained future growth but also reflects Savaria's ongoing efforts in managing its debt while seeking new investment opportunities.
What Drives Savaria’s Success?
Founded with a mission to enhance accessibility for individuals with mobility challenges, Savaria Corporation stands as a prominent player in the accessibility industry. By providing a wide range of products, from stairlifts to specialized medical equipment, they have focused on improving comfort, mobility, and independence for their users.
The company offers a comprehensive lineup of accessibility solutions, including straight and curved stairlifts, wheelchair lifts, and elevators tailored for both residential and commercial environments. They also produce a variety of medical equipment focusing on safe patient handling, illustrating their commitment to improving quality of life for those who need it.
The Global Reach of Savaria
With a workforce of approximately 2,500 and manufacturing facilities spread across North America and Europe, Savaria’s global footprint is impressive. Their sales network extends to numerous countries, showcasing their dedication to delivering tailored solutions to clients around the world. This strong presence not only positions Savaria as a leader in the market but also provides them with insights into various regional needs, enabling them to innovate continually.
Contact and Support
For those interested in learning more about Savaria Corporation or their offerings, the leadership team includes Sébastien Bourassa (President and CEO) and Stephen Reitknecht (Chief Financial Officer). Both can be reached directly for inquiries and support, ensuring that stakeholders can maintain open lines of communication with the company.
Frequently Asked Questions
What is the new dividend amount for Savaria Corporation?
The new dividend amount is 4.67 cents per common share, reflecting a 3.7% increase.
When will the increased dividend be paid?
The increased dividend will be payable starting on a designated date following the shareholder record cut-off.
What factors contributed to the dividend increase?
The increase is attributed to Savaria's strong financial performance and a strategic outlook for profitability in upcoming years.
How does Savaria support accessibility?
Savaria Corporation provides a wide range of accessibility products and solutions to enhance mobility and independence for those with physical challenges.
Who are the key contacts at Savaria Corporation?
The key contacts include Sébastien Bourassa, President and CEO, and Stephen Reitknecht, Chief Financial Officer, both of whom are available for inquiries.
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