Monro, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.28 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled. The dividend is payable on March 22, 2024 to shareholders at the close of business on March 8, 2024.

Insights

Financial Analyst

The declaration of a quarterly cash dividend of $.28 per share by Monro, Inc. signifies a distribution of profits to shareholders, which is a direct indicator of the company's current financial health and its ability to generate cash. From a financial analysis perspective, the dividend yield, calculated by dividing the annual dividend per share by the stock's price, becomes a critical metric for investors. It offers insight into the return on investment that shareholders can expect from dividend payments alone.

Furthermore, consistency in paying dividends can be a signal of stable earnings, which might attract a certain class of income-focused investors. However, it's important to analyze this in the context of the company's reinvestment opportunities and debt obligations, as these factors could influence future growth and financial stability.

Market Research Analyst

In the automotive service industry, where Monro, Inc. operates, the declaration of dividends can also be seen as a competitive positioning tool. It can reflect the company's confidence in maintaining operational efficiency and market share amidst industry-specific challenges such as fluctuating raw material costs and consumer demand trends. A market research analyst would evaluate how this dividend announcement compares to industry norms and what it suggests about Monro's strategic priorities, particularly in relation to capital investment and expansion.

Economist

From an economic standpoint, the decision to pay out dividends may also be influenced by broader economic conditions. In inflationary times, companies might opt to distribute more of their profits to protect shareholders' real returns. Conversely, in a low-interest-rate environment, companies may be encouraged to invest more heavily in growth opportunities rather than paying out dividends. An economist would assess the macroeconomic environment and its impact on Monro's dividend policy, considering factors like interest rates, inflation and economic growth forecasts.

ROCHESTER, N.Y.--(BUSINESS WIRE)-- Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.28 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled. The dividend is payable on March 22, 2024 to shareholders at the close of business on March 8, 2024.

About Monro, Inc.

Monro, Inc. (NASDAQ: MNRO) is one of the nation’s leading automotive service and tire providers, delivering best-in-class auto care to communities across the country, from oil changes, tires and parts installation, to the most complex vehicle repairs. With a growing market share and a focus on sustainable growth, the Company generated approximately $1.3 billion in sales in fiscal 2023 and continues to expand its national presence through strategic acquisitions and the opening of newly constructed stores. Across approximately 1,300 stores and 9,000 service bays nationwide, Monro brings customers the professionalism and high-quality service they expect from a national retailer, with the convenience and trust of a neighborhood garage. Monro’s highly trained teammates and certified technicians bring together hands-on experience and state-of-the-art technology to diagnose and address automotive needs every day to get customers back on the road safely. For more information, please visit corporate.monro.com.

MNRO-Fin

View source version on businesswire.com: https://www.businesswire.com/news/home/20240208869697/en/

Investors and Media: Felix Veksler

Senior Director, Investor Relations

ir@monro.com

Source: Monro, Inc.

FAQ

What is the ticker symbol for Monro, Inc.?

The ticker symbol for Monro, Inc. is MNRO.

What is the amount of the quarterly cash dividend declared by Monro, Inc.?

Monro, Inc. has declared a quarterly cash dividend of $.28 per share on the Company’s outstanding shares of common stock.

When is the dividend payable to shareholders?

The dividend is payable on March 22, 2024 to shareholders at the close of business on March 8, 2024.