McGrath RentCorp Declares Quarterly Dividend for 33rd Consecutive Year: Will Dividend Increases Soon Follow?
McGrath RentCorp (MGRC), a leading business-to-business rental company in North America, recently announced the declaration of a quarterly cash dividend of $0.475 per common share for the quarter ended June 30, 2024.This marks the 33rd consecutive year that McGrath RentCorp has raised its dividend to shareholders.
As of the writing of this article, McGrath RentCorp’s 12 Month dividend pay out ratio has sequentially decreased to 24.88% in the third quarter of 2023 due to an increase in earnings per share.Despite this decrease, McGrath RentCorp’s earnings continue to rise, and the pay out ratio remains below its average.This raises the question of whether McGrath RentCorp will increase the dividend soon.
In comparison to its peers in the Services sector, McGrath RentCorp ranks higher than 920 in the second quarter of 2023.Additionally, 103 companies had a higher 12 Month dividend pay out ratio than McGrath RentCorp.
With McGrath RentCorp’s strong performance and consistent track record of dividend increases, shareholders may be wondering if a dividend increase is on the horizon.Only time will tell if McGrath RentCorp will continue its streak of dividend increases in the future.
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