WINNIPEG, June 18, 2018 /CNW/ - (TSX:NFI) NFI Group Inc., formerly New Flyer Industries Inc. ("NFI Group") today declared a quarterly dividend for the period April 1, 2018 to June 30, 2018 on the common shares of NFI Group (the "Shares") in the amount of C$0.375 per Share to holders of record at the close of business on June 29, 2018. The dividend will be payable on July 16, 2018. As previously announced on May 9, 2018, the board of directors of NFI Group approved a 15.4% increase in the annual dividend rate from C$1.30 to C$1.50 per Share, effective this dividend payment.
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.
About NFI Group With nearly 6,000 team members, operating from 32 facilities across Canada and the United States, NFI Group is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under several 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 Group's 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). For the fiscal year ended December 31, 2017, NFI Group posted revenues of US $2.4 billion.
The Shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com.
Forward-Looking Statements This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group 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 Group's senior credit facility could impact the ability of NFI Group 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 Group 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: Lindy Norris, 204.792.8424