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Winnipeg, Manitoba, Canada; March 14, 2006; (TSX:NFI.UN) New Flyer Industries Inc. ("NFI") and New Flyer Industries Canada ULC ("NFI ULC") (together, the "Issuer") today announced that a cash distribution of C$0.09167 per income deposit security ("IDS") of the Issuer will be payable on April 17, 2006 to holders of record of IDSs at the close of business on March 31, 2006.
Each IDS consists of one common share of NFI (a "Common Share") and C$5.53 principal amount of 14% subordinated notes of NFI ULC (the "Subordinated Notes"), an indirect subsidiary of NFI. The IDSs trade on the Toronto Stock Exchange under the symbol NFI.UN. The total distribution of C$0.09167 per IDS reflects a cash dividend of C$0.02715 per Common Share and an interest payment of C$0.06452 per C$5.53 principal amount of Subordinated Notes for the period from March 1, 2006 to March 31, 2006.
New Flyer also announced that it intends to release its 2005 fourth quarter and year-end financial results after the close of markets on March 22nd. A conference call for analysts and interested listeners will be held March 24th at 8:30 a.m. (ET). The call-in numbers for listeners are 416-644-3420 or 800-814-4941. A live audio feed of the call will also be available at: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1396780
A replay of the call will be available from 12:30 p.m. (ET) on March 24th until 11:59 p.m. (ET) on March 31st. To access the replay, call 416-640-1917 or 877-289-8525, enter pass code number 21181457, and then press the number (#) sign. The replay will also be available on the Company’s web site at www.newflyer.com.
New Flyer is the leading manufacturer of heavy-duty transit buses in the United States and Canada and a leading provider of aftermarket services. New Flyer has the broadest range of products in the heavy-duty transit bus industry and provides its products and services to the majority of the largest transit authorities in North America.
Forward-Looking Statements
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI and NFI ULC that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed in the prospectus filed with the Canadian securities regulatory authorities. Due to the potential impact of these factors, NFI and NFI ULC disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
For further information, please contact:
New Flyer Industries Inc.
Glenn Asham, Chief Financial Officer
Tel: 204-224-1251
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