McGrath RentCorp Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of McGrath RentCorp (NASDAQ:MGRC) declared a quarterly cash dividend of $0.42 per share for the quarter ending September 30, 2020. This dividend, marking the 29th consecutive year of increased dividends, will be payable on October 30, 2020, to shareholders recorded by October 16, 2020. McGrath RentCorp operates in the business-to-business rental sector, offering modular buildings, electronic test equipment, and storage solutions across North America.

Positive

• Declared a quarterly cash dividend of $0.42 per share.
• 29 consecutive years of increasing dividends demonstrates strong financial health.

Negative

• None.

LIVERMORE, Calif., Sept. 18, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of McGrath RentCorp (NASDAQ:MGRC), a diversified business-to-business rental company declared a quarterly cash dividend of $0.42 per common share for the quarter ended September 30, 2020.  The dividend will be payable on October 30, 2020 to all shareholders of record on October 16, 2020.  The year 2020 marks the 29th consecutive year that McGrath RentCorp has raised its dividend to shareholders.

ABOUT MCGRATH RENTCORP

Founded in 1979, McGrath RentCorp (Nasdaq: MGRC) is a diversified business-to-business rental company providing modular buildings, electronic test equipment, portable storage and tank containment solutions across the United States and other select North American regions.  The Company’s rental operations consist of four divisions: Mobile Modular rents and sells modular buildings to fulfill customers’ temporary and permanent classroom and office space needs; TRS-RenTelco rents and sells electronic test equipment; Adler Tank Rentals rents and sells containment solutions for hazardous and nonhazardous liquids and solids; and Mobile Modular Portable Storage provides portable storage rental solutions.  For more information on McGrath RentCorp and its operating units, please visit our websites:

Corporate – www.mgrc.com
Modular Buildings – www.mobilemodular.com
Electronic Test Equipment – www.trsrentelco.com
Tanks and Boxes – www.adlertankrentals.com
Portable Storage – www.mobilemodularcontainers.com
School Facilities Manufacturing – www.enviroplex.com

CONTACT:      
Keith E. Pratt                                         
EVP & Chief Financial Officer                        
925-606-9200

FAQ

What is the dividend amount declared by McGrath RentCorp (MGRC)?

McGrath RentCorp declared a quarterly cash dividend of $0.42 per share.

When will the dividend for MGRC be paid?

The dividend will be paid on October 30, 2020.

What is the record date for the MGRC dividend?

The record date for the dividend is October 16, 2020.

How many consecutive years has MGRC increased its dividend?

McGrath RentCorp has increased its dividend for 29 consecutive years.