Miller Industries, Inc. (NYSE:MLR) Declares Quarterly Dividend of $0.21

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Wednesday, March 4th. Stockholders of record on Monday, March 16th will be paid a dividend of 0.21 per share by the auto parts company on Monday, March 23rd. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, March 16th. This is a 5.0% increase from Miller Industries’s previous quarterly dividend of $0.20.

Miller Industries has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Miller Industries has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Miller Industries to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 13.5%.

Miller Industries Stock Up 3.5%

NYSE:MLR opened at $44.80 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.46 and a quick ratio of 2.13. Miller Industries has a 1-year low of $33.81 and a 1-year high of $56.56. The company has a 50-day moving average of $41.34 and a 200 day moving average of $40.29. The firm has a market cap of $512.06 million, a PE ratio of 17.23 and a beta of 1.25.

Miller Industries (NYSE:MLR) last posted its quarterly earnings results on Wednesday, March 4th. The auto parts company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.03 by $0.26. Miller Industries had a net margin of 3.59% and a return on equity of 7.32%. The business had revenue of $171.92 million during the quarter, compared to analyst estimates of $164.20 million. As a group, research analysts anticipate that Miller Industries will post 5.68 EPS for the current fiscal year.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.