SOUTHBOROUGH, Mass., March 25, 2016 (GLOBE NEWSWIRE) -- Sevcon, Inc. (Nasdaq:SEV), a world leader in the design and manufacture of controls and battery chargers for zero emission electric and hybrid vehicles, today announced that a semi-annual dividend on the company's Series A Convertible Preferred Stock will be payable on April 15, 2016, to shareholders of record at the close of business on April 4, 2016. The dividend will be $0.48 per share, representing the pro-rata amount for the period commencing October 16, 2016.
Dividends on the Series A Convertible Preferred Stock are payable on October 15 and April 15 each year at the rate of 4 percent per annum of the stated value of $24 per share.
About Sevcon, Inc.
Sevcon is a global supplier of control and power solutions for zero-emission, electric and hybrid vehicles. Its products control on- and off-road vehicle speed and movement, integrate specialized functions, optimize energy consumption and help reduce air pollution. Sevcon’s newly acquired Bassi Division produces battery chargers for electric vehicles; power management and uninterrupted power source (UPS) systems for industrial, medical and telecom applications; and electronic instrumentation for battery laboratories. The company supplies customers from its operations in the U.S., U.K., France, Germany, Italy, China and the Asia Pacific region, as well as through an international dealer network. Visit www.sevcon.com and www.bassi-srl.eu.