McGrath RentCorp Declares Quarterly Dividend

Rhea-AI Summary

The Board of Directors of McGrath RentCorp (NASDAQ:MGRC) has declared a cash dividend of $0.42 per common share for Q2 2020, payable on July 31, 2020, to shareholders of record by July 17, 2020. This marks the 29th consecutive year of dividend increases, reflecting the company's commitment to rewarding shareholders. McGrath RentCorp continues to operate across various sectors including modular buildings, electronic test equipment, and portable storage services, showcasing its diversified business model.

Positive

• Quarterly cash dividend of $0.42 per share, payable July 31, 2020.
• 29th consecutive year of increasing dividends, indicating strong financial health.

Negative

• None.

LIVERMORE, Calif., June 03, 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 June 30, 2020.  The dividend will be payable on July 31, 2020 to all shareholders of record on July 17, 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 for McGrath RentCorp for Q2 2020?

McGrath RentCorp declared a dividend of $0.42 per share for Q2 2020.

When will the dividend be paid to shareholders of McGrath RentCorp?

The dividend will be paid on July 31, 2020.

What is the record date for the McGrath RentCorp dividend?

The record date for the dividend is July 17, 2020.

How many consecutive years has McGrath RentCorp increased its dividend?

McGrath RentCorp has increased its dividend for 29 consecutive years.