REV Group Inc (REVG) has released an update.
Following the sale of Collins, the Company’s Board of Directors has declared a special cash dividend of $3.00 per share, payable on February 16, 2024, to shareholders on record as of February 9, 2024. The tax treatment of the dividend will depend on the company’s earnings and profits, and shareholders are advised to consult tax advisors for personal implications, including the impact of backup withholding and preferential rates. Additionally, the company is restructuring into two segments, Specialty Vehicles and Recreational Vehicles, with the former combining the Fire & Emergency and Commercial segments and the latter being renamed from the Recreation segment. This change will be reported in the Company’s fiscal first-quarter report.
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For a comprehensive understanding of the announcement, you can read the full document here.
