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COBURG, Ore. - Monaco Coach Corp. said Thursday its board suspended the recreational vehicle maker's quarterly cash dividend payment to bolster its balance sheet and improve liquidity.
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Shares of RV makers have fallen sharply in recent months amid a run-up in gasoline prices, a weak economy and a decline in consumer confidence. Some RV makers have said that a recent drop in gas prices has improved their sales.
The dividend would have been payable Sept. 15.
Shares of Coburg, Ore.-based Monaco closed at $2.44 Wednesday. The stock has ranged from $2.02 to $14.89 in the last 52 weeks.
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