LAVAL, QUEBEC -- (MARKET WIRE) -- 04/11/08 -- The Board of directors of Savaria Corporation (TSX: SIS), the second largest company in the accessibility equipment industry in North America, has declared a dividend of 6.3 cents ($0.063) per common share to be paid on May 6, 2008 to shareholders of record on April 22, 2008.This total dividend of 6.3 cents includes a first amount of 2.1 cents in compliance with the Corporation's policy of declaring an annual dividend equivalent to 50% of the previous year's earnings before income taxes, depreciation and amortization. To this amount, is added another 4.2 cents that corresponds to an excess of cash coming from the sale of the building in Laval. In fact, Savaria finalized the sale of its building located on Highway 13 in Laval following the closure of the manufacturing plant of this location, as announced in 2007.
Savaria Corporation (www.savariaconcord.com) is Canada's leader and the second largest accessibility company in North America. The Corporation designs, manufactures and distributes products meeting the needs of people with mobility challenges, primarily stairlifts, vertical and inclined platform lifts, as well as elevators for residential and commercial use. Its sales rely on a network of some 600 retailers in North America. Savaria records approximately 55% of its sales outside Canada and employs some 300 people.
Contacts:
Savaria Corporation
Mr. Marcel Bourassa
Chairman, President and Chief Executive Officer
450-681-5655 or 1-800-931-5655
marcel.bourassa@savaria.com
Savaria Corporation
Ms. Helene Bernier, CA
V.P. Finance
450-681-5655 or 1-800-931-5655
helene.bernier@savaria.com
www.savariaconcord.com