The Shyft Group Declares Cash Dividend Amid Strong Financial Performance

The Shyft Group Declares Quarterly Cash Dividend

The Shyft Group, Inc. (NASDAQ: SHYF), a leading manufacturer of specialty vehicles in North America, has recently announced an impressive quarterly cash dividend of $0.05 per share. The decision was made by the company's Board of Directors, highlighting their commitment to returning value to shareholders while reflecting the strong financial performance of the business.

The dividend is set to be payable on March 28, 2025, to shareholders registered as of February 27, 2025. This announcement comes as the company continues to report positive results and maintain a robust position in the industry.

Overview of The Shyft Group

Founded in Michigan, The Shyft Group specializes in the manufacturing, assembly, and upfitting of specialty vehicles for various market segments, including commercial, retail, and service sectors. The company's notable customer base comprises a wide variety of industries, notably including first-to-last mile delivery services, various government entities, and utility and infrastructure segments.

The Shyft Group operates through two primary business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. Under its umbrella, it includes several well-known brands such as Utilimaster®, Blue Arc™ EV Solutions, and Royal® Truck Body. The Shyft Group’s products are recognized for their quality, durability, and innovative design, which have established a strong reputation within the marketplace.

In 2023, The Shyft Group reported significant sales totaling $872 million, which demonstrates its strong marketplace position and the continuous demand for its products. The company employs around 3,000 personnel across various locations, with operational facilities situated in Arizona, California, Florida, Indiana, Iowa, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and even Saltillo, Mexico.

Looking Ahead

The declared dividend reaffirms The Shyft Group's ongoing commitment to delivering shareholder value, alongside their focus on sustained growth and innovation within the specialty vehicle sector. As the Company progresses, it remains positioned to capitalize on burgeoning opportunities across multiple markets. Investors can look forward to the scheduled payment of this dividend, as The Shyft Group continues to nurture its long-term strategic goals.

For more information about The Shyft Group and its operations, interested parties can visit TheShyftGroup.com.

By maintaining its leadership in the specialty vehicle industry and executing its business strategy effectively, The Shyft Group positions itself favorably for continued growth in the future.

For further media inquiries, Sydney Machesky, the Director of Corporate Communications for The Shyft Group, can be contacted at sydney.machesky@theshyftgroup.com or via phone at 586-413-4112. Additionally, Randy Wilson serves as the Vice President of Investor Relations and Treasury and can be reached at randy.wilson@theshyftgroup.com or 248-727-3755.