Student Transportation of Canada Awarded Two New Contracts
Student Transportation (Nasdaq: STB) and its subsidiary Student Transportation of Canada announced today it has been awarded new contracts in Ontario beginning July 2012. The contracts, each for five years will add approximately 200 vehicles, C$9.0 million in revenue on an annualized basis and include fuel price mitigation clauses. The contracts add Canadian revenue and cash flows which increase the natural hedge for the Company's continued dividend program.
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