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Savaria Board Approves Dividend Hike

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Savaria's (SIS.TO) board of directors approved an increase in the company's monthly dividend to 0.04916 Canadian dollars per share.

This represents an increase of CA$0.03 or 5.36% on an annual basis, boosting the dividend to CA$0.59 per common share, the accessibility solutions provider said Monday.

The increased dividend will be payable monthly starting Oct. 9 to shareholders of record as of Sept. 30.

"This dividend increase reflects our confidence in continuing to deliver strong profitability in the coming years, while maintaining ample balance sheet flexibility by paying down debt and having the ability to invest in growth opportunities as they arise," Executive Chairman Marcel Bourassa said.

Price: $28.15, Change: $+0.03, Percent Change: +0.11%

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