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Student Transportation Inc.TSX:STB, NASDAQ:STB paid its 95th consecutive monthly cash dividend

Student Transportation Inc., North America’s 3rd-largest provider of school bus transportation services, announced Tuesday that it has issued and paid its 95th consecutive monthly cash dividend since its IPO in December 2004.

STB is completing its 8th yr as a public company and is listed on the Toronto Stock Exchange and the NASDAQ Global Select Market. The common shares currently have a C$0.56 annual dividend per share paid monthly.

STB also announced its subsidiary Student Transportation of America, Inc. has secured the largest transportation agreement in its history to serve the Omaha and Millard Public Schools in Nebraska. The contract will provide approximately 530 vehicles, including over 400 new fuel-efficient propane-powered vehicles.

As part of it’s over 9300 vehicles in service, the company currently operates several hundred propane powered vehicles in California and Minnesota.

The Company said it has extensive availability under its credit agreements as well as low cost leasing available to fund growth for F-Y 2014.

STB designates these dividends to be “eligible dividends” pursuant to subsection 89(14) of the Income Tax Act (Canada) and its equivalent in any provinces of Canada. These dividends should be considered “qualified dividends” from a US tax perspective under Section 1(h)(11) of the Internal Revenue Code of 1986, as amended, subject to the shareholder meeting and the holding period requirement to claim the qualified dividend treatment.
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