Monaco Coach Corporation Announces Suspension of Dividend
14 Août 2008 - 12:00PM
Marketwired
Monaco Coach Corporation (NYSE: MNC), one of the nation's leading
manufacturers of recreational vehicles, today announced that its
Board of Directors has decided to suspend the Company's quarterly
cash dividend payment that would otherwise be payable on September
15, 2008.
"In an effort to bolster our balance sheet and improve
liquidity, we have decided to suspend our cash dividend and believe
that this action is in the best interest of both our stockholders
and the Company," said Kay Toolson, Chairman and CEO of Monaco
Coach Corporation. "We are looking forward to stronger recreational
vehicle markets and improved cash flow that would enable us to
resume our dividend in the future."
About Monaco Coach Corporation
Monaco Coach Corporation, a leading national manufacturer of
motorized and towable recreational vehicles, is ranked as the
number one producer of diesel-powered motorhomes. Dedicated to
quality and service, Monaco Coach is a leader in innovative RVs
designed to meet the needs of a broad range of customers with
varied interests and offers products that appeal to RVers across
generations.
Headquartered in Coburg, Oregon, with manufacturing facilities
in Indiana, the Company offers a variety of RVs, from entry-level
priced towables to custom-made luxury models under the Monaco,
Holiday Rambler, Safari, Beaver, McKenzie, R-Vision and Dodge brand
names. The Company maintains RV service centers in Harrisburg,
Oregon and Wildwood, Florida and operates motorhome-only resorts in
California, Florida, Nevada and Michigan.
Monaco Coach Corporation trades on the New York Stock Exchange
under the symbol "MNC," and the Company is included in the S&P
Small-Cap 600 stock index. For additional information about Monaco
Coach Corporation, please visit www.monaco-online.com or
www.trail-lite.com.
The statement above regarding stronger cash flows and the
possible resumption of dividends in the future is a forward-looking
statement and is subject to various risks and uncertainties that
could cause actual results to differ materially from this
statement. These risks and uncertainties include our ability to
conclude a definitive new credit agreement that will permit us to
resume dividends, unforeseen further declines in the wholesale and
retail markets for recreational vehicles, the failure to generate
the anticipated cash flow and improved operating results from our
production realignment, continued decline in consumer confidence,
an increase in interest rates and credit standards affecting retail
and wholesale financing and an increase in the price or
availability of fuel. Please refer to the Company's SEC reports for
additional risks and uncertainties, including but not limited to
the most recent Form 10-Q, the annual report on Form 10-K for 2007,
and the 2007 Annual Report to Shareholders for additional factors.
These filings can be accessed over the Internet at
http://www.sec.gov or http://www.monaco-online.com.
CONTACT: Craig Wanichek Director of Investor Relations Monaco
Coach Corporation (541) 681-8029 Email Contact
Monaco Coach (NYSE:MNC)
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