WINNIPEG, March 15, 2019 /CNW/ - (TSX:NFI) NFI Group Inc. ("NFI") today declared a quarterly dividend for the period January 1, 2019 to March 31, 2019 on the common shares of NFI (the "Shares") in the amount of C$0.425 per Share to holders of record at the close of business on March 29, 2019. The dividend will be payable on April 15, 2019. As announced on March 13, 2019, the board of directors of NFI approved a 13.3% increase in the annual dividend rate from C$1.50 to C$1.70 per Share.
The dividends on the Shares 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 legislation.
With over 6,000 team members, operating from 31 facilities across Canada and the United States, NFI is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts™ (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell) on proven bus platforms. In total, NFI supports over 74,000 buses and coaches currently in service across North America. For the fiscal year ended December 30, 2018, NFI posted revenues of U.S. $2.5 billion.
NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI 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 under NFI's credit facility could impact the ability of NFI to fund dividends and the other risks and uncertainties detailed in the disclosure documents filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, NFI 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 NFI Group Inc.
For further information: Stephen King, Director, Corporate Development and Investor Relations, NFI Group, 204.224.6382, Stephen_King@newflyer.com