Savaria Increases Dividend By 3.85%

LAVAL, Québec, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS) one of the global leaders in the accessibility industry, announces today that its Board of Directors has approved an increase to the Corporation’s monthly dividend, raising it to 4.5 cents ($0.045) per common share. On an annual basis, this represents an increase of two cents ($0.02) or 3.85%, raising the dividend to 54 cents ($0.54) per common share. This increase will apply to the dividends payable monthly starting on October 9, 2024, to shareholders of record of the Corporation at the close of business on September 30, 2024. This is an eligible dividend within the meaning of the Income Tax Act (Canada).

A Word from the Executive Chairman

“As a result of our financial performance in 2023 and for the first six months of 2024, I am pleased to announce the increase of our dividends for the first time since 2022. We are proud to have been listed as a TSX Canadian Dividend Aristocrat stock since February 3, 2020,” said Marcel Bourassa, Executive Chairman of Savaria.

About Savaria Corporation

Savaria Corporation () is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,400 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.