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McGrath RentCorp (Nasdaq: MGRC), a leading business-to-business rental company in North America, has announced a quarterly cash dividend of $0.475 per common share for Q2 2024. This dividend will be paid on July 31, 2024, to shareholders recorded by July 17, 2024. Impressively, 2024 marks the 33rd consecutive year that McGrath has increased its dividend to shareholders, reflecting the company's commitment to returning value to its investors.
Positive
Declared quarterly cash dividend of $0.475 per common share for Q2 2024.
Dividend payable on July 31, 2024, to shareholders recorded by July 17, 2024.
2024 marks the 33rd consecutive year of dividend increases, showcasing strong and consistent financial health.
Negative
No new growth initiatives or business expansions were mentioned in the PR, which might concern some investors looking for continuous business development.
The announcement does not include any information on revenue or profit growth, which can provide a fuller picture of the company's financial health.
LIVERMORE, Calif.--(BUSINESS WIRE)--
McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today announced the Board of Directors’ declaration of a quarterly cash dividend of $0.475 per common share for the quarter ended June 30, 2024. The dividend will be payable on July 31, 2024 to all shareholders of record on July 17, 2024. The year 2024 marks 33 consecutive years that McGrath RentCorp has raised its dividend to shareholders.
ABOUT MCGRATH:
McGrath RentCorp (Nasdaq: MGRC) is a leading business-to-business rental company in North America with a strong record of profitable business growth. Founded in 1979, McGrath’s operations are centered on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses. In addition, its TRS-RenTelcobusiness offers electronic test equipment rental solutions. The Company’s rental product offerings and services are part of the circular supply economy, helping customers work more efficiently, and sustainably manage their environmental footprint. With over 40 years of experience, McGrath’s success is driven by a focus on exceptional customer experiences. This focus has underpinned the Company’s long-term financial success and supported over 30 consecutive years of annual dividend increases to shareholders, a rare distinction among publicly listed companies.
Headquartered in Livermore, California. Additional information about McGrath and its businesses is available at mgrc.com and investors.mgrc.com.
