WINNIPEG, Nov. 15, 2011 /CNW/ - (TSX:NFI) (TSX:NFI.UN) New Flyer
Industries Inc. ("New Flyer") declared today a dividend on the common
shares of New Flyer (the "Shares"), including those Shares held
separately and those Shares held in the form of an income deposit
security ("IDS"), in the amount of C$0.07167 per Share, which will be
payable on December 15, 2011, to holders of record at the close of
business on November 30, 2011. The Shares that are held separately
trade on the Toronto Stock Exchange (the "TSX") under the symbol NFI
and the Shares that are held in the form of an IDS trade on the TSX
under the symbol NFI.UN.
The regular monthly cash interest payment of C$0.645 per C$55.30
principal amount of subordinated notes (the "Subordinated Notes") of
New Flyer Industries Canada ULC ("NFI ULC") will also be paid on
December 15, 2011 to holders of Subordinated Notes (including those
held separately and those held in the form of an IDS) of record at the
close of business on November 30, 2011. As a result, holders of record
of IDSs will receive a total distribution of C$0.7167 per IDS,
representing a cash dividend of C$0.07167 per Share and an interest
payment of C$0.645 per C$55.30 principal amount of Subordinated Notes
for the period from November 1, 2011 to November 30, 2011.
The dividends on the Shares (including those Shares forming part of the
IDSs) are designated as "eligible dividends" for purposes of the
enhanced dividend tax credit rules contained in the Income Tax Act (Canada) and any corresponding provincial and territorial tax
About New Flyer
New Flyer is the leading manufacturer of heavy-duty transit buses in
Canada and the United States. With a skilled workforce of over 2,000
employees, New Flyer is a technology leader, offering the broadest
product line in the industry, including drive systems powered by clean
diesel, LNG, CNG and electric trolley as well as energy-efficient
diesel-electric hybrid vehicles. All products are supported with an
industry-leading, comprehensive parts and service network. Further
information is available on New Flyer's web site at www.newflyer.com.
This press release may contain forward-looking statements relating to
expected future events and financial and operating results of New Flyer
that involve risks and uncertainties. Actual results may differ
materially from management expectations as projected in such
forward-looking statements for a variety of reasons, including market
and general economic conditions, the covenants contained in NFI ULC's
senior credit facility and subordinated note indenture and the other
risks and uncertainties detailed in the disclosure documents filed with
the Canadian securities regulatory authorities. Due to the potential
impact of these factors, New Flyer disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, unless
required by applicable law.
SOURCE New Flyer Industries Inc.
For further information:
New Flyer Industries Inc.
Glenn Asham, Chief Financial Officer