Supreme Industries, Inc. today announced a 2% stock dividend on its outstanding Class A and Class B Common Stock. Stockholders of record as of August 22, 2008, will receive the stock dividend for each share owned on that date, payable on August 29, 2008.
Due to present industry conditions, the Board of Directors has decided to initiate a stock dividend program replacing cash dividend distributions. The Board intends to continue this stock dividend program until industry conditions improve and cash dividends can be resumed. Future dividend payments are necessarily subject to business conditions, the company's financial position and requirements for working capital, property, plant, and equipment expenditures and other corporate purposes.
Cash in lieu of fractional shares will be paid to stockholders based on the last sales price of the company's Class A Common Stock on the record date. As of August 1, 2008, Supreme Industries had 13,221,689 shares of Common Stock outstanding, consisting of 11,197,556 shares of Class A Common Stock and 2,024,133 shares of Class B Common Stock.