McGrath Declares Quarterly Dividend

Rhea-AI Summary

McGrath RentCorp (Nasdaq: MGRC) has declared a quarterly cash dividend of $0.455 per common share, payable on January 31, 2023, to shareholders of record as of January 17, 2023. This marks 31 consecutive years of raising dividends, highlighting the company's commitment to shareholder returns. Established in 1979, McGrath is a major player in North America's rental sector, focusing on modular solutions and electronic test equipment. The dividend reflects the company’s strong financial position and growth.

Positive

• Declared a quarterly cash dividend of $0.455, demonstrating strong cash flow and commitment to shareholders.
• 31 consecutive years of dividend increases, indicating a robust and reliable financial performance.
• Established history of profitable business growth with a diverse range of rental services.

Negative

• None.

LIVERMORE, Calif.--(BUSINESS WIRE)-- McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company in North America, today declared a quarterly cash dividend of $0.455 per common share for the quarter ended December 31, 2022. The dividend will be payable on January 31, 2023 to all shareholders of record on January 17, 2023. The year 2022 marks 31 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-RenTelco business offers electronic test equipment rental solutions, and its Adler Tank Rentals business provides environmental containment solutions for hazardous and nonhazardous liquids and solids. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208005681/en/

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

Source: McGrath RentCorp

FAQ

What is the dividend amount declared by McGrath RentCorp for the quarter ended December 31, 2022?

The dividend amount declared is $0.455 per common share.

When will the dividend be payable to shareholders?

The dividend will be payable on January 31, 2023.

What is the record date for McGrath RentCorp's dividend payment?

The record date for the dividend payment is January 17, 2023.

How many consecutive years has McGrath RentCorp raised its dividend?

McGrath RentCorp has raised its dividend for 31 consecutive years.