Laval, Quebec, Canada – September 16, 2021 – Savaria Corporation (“Savaria”) (TSX: SIS) one of the global leaders in the accessibility industry, announces today that its Board of Directors approved an increase to the Corporation’s monthly dividend, raising it to 4.17 cents ($0.0417) per common share. On an annual basis, this represents an increase of two cents ($0.02), raising the dividend to 50 cents ($0.50) per share representing a 4.17% increase. This increase will apply to the dividends payable monthly starting on October 8, 2021 to shareholders of record of the Corporation at the close of business on September 30, 2021. This is an eligible dividend within the meaning of the Income Tax Act (Canada).
A Word from the President
“In the first six months of 2021 we have realized $44.7 million in adjusted EBITDA, representing a 66.6% increase over the same period in 2020 ($26.8 million). I remain confident in the future growth prospects, profitability and cash generation potential for Savaria. Our industry is really one that remains essential to provide equipment for the growing need of mobility issues and our “Stay at Home with SavariaTM” motto is something we believe resonates with a worldwide audience. I thank our employees for their contributions to our success through the challenges of the pandemic,” concluded Mr. Bourassa.
About Savaria Corporation
Savaria Corporation (savaria.com) 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. In addition, Savaria converts and adapts vehicles for personal and commercial uses. 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 2,300 people globally and its plants are located across Canada, the United States, Europe and China.