McGrath RentCorp (MGRC) to Issue Quarterly Dividend of $0.49 on January 30th

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Friday, December 12th. Shareholders of record on Friday, January 16th will be given a dividend of 0.485 per share by the financial services provider on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, January 16th.

McGrath RentCorp has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 33 years. McGrath RentCorp has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect McGrath RentCorp to earn $6.87 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 28.2%.

McGrath RentCorp Price Performance

Shares of MGRC stock traded down $1.83 during mid-day trading on Wednesday, hitting $107.62. The company had a trading volume of 10,222 shares, compared to its average volume of 83,896. The company has a market capitalization of $2.65 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.07 and a beta of 0.50. McGrath RentCorp has a 52-week low of $94.99 and a 52-week high of $129.93. The stock’s 50 day moving average price is $104.73 and its 200-day moving average price is $114.07.

McGrath RentCorp (NASDAQ:MGRC) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.11). McGrath RentCorp had a return on equity of 12.59% and a net margin of 15.62%.The firm had revenue of $256.44 million during the quarter, compared to the consensus estimate of $266.62 million. During the same period last year, the firm posted $1.87 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that McGrath RentCorp will post 6.18 earnings per share for the current year.

About McGrath RentCorp

McGrath RentCorp, through its subsidiaries, provides rental, sales, and servicing of equipment for commercial, industrial, environmental, and residential markets. The company operates primarily through two segments—mobile storage and water management—offering flexible solutions for customers requiring on-site storage, water transport, treatment, and dewatering services.

In its mobile storage segment, McGrath RentCorp supplies portable storage containers and modular office units to sectors including construction, retail, government, and disaster restoration.