SCOTTSDALE, Ariz., Sept. 16, 2015 /PRNewswire/ -- Universal Technical Institute, Inc. (NYSE: UTI), the leading provider of automotive technician training, announced today that its board of directors approved a reduced quarterly cash dividend on UTI common stock. A cash dividend of $0.02 per share, payable on October 5, 2015, will be paid to common stockholders of record as of September 28, 2015.
"Reducing the dividend creates a more reasonable yield while enabling additional cash investments intended to grow our student population and provide a greater return for investors," said Kim McWaters, Chairman and CEO.
About Universal Technical Institute, Inc.
Headquartered in Scottsdale, Arizona, Universal Technical Institute, Inc. (NYSE: UTI) is the leading provider of post-secondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. With more than 190,000 graduates in its 50-year history, UTI offers undergraduate degree and diploma programs at 12 campuses across the United States, as well as manufacturer-specific training programs at dedicated training centers. Through its campus-based school system, UTI provides specialized post-secondary education programs under the banner of several well-known brands, including Universal Technical Institute (UTI), Motorcycle Mechanics Institute and Marine Mechanics Institute (MMI) and NASCAR Technical Institute (NASCAR Tech). For more information visit www.uti.edu.
SOURCE Universal Technical Institute, Inc.
