McGrath RentCorp (NASDAQ:MGRC) to Issue Quarterly Dividend of $0.50

McGrath RentCorp (NASDAQ:MGRC) announced a quarterly dividend on Wednesday, February 25th. Investors of record on Thursday, April 16th will be given a dividend of 0.495 per share by the financial services provider on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Thursday, April 16th. This is a 2.1% increase from McGrath RentCorp’s previous quarterly dividend of $0.49.

McGrath RentCorp has raised its dividend by an average of 0.0%per year over the last three years and has increased 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. Research 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 Trading Up 0.5%

MGRC traded up $0.63 during trading on Thursday, reaching $116.32. 106,751 shares of the company were exchanged, compared to its average volume of 129,833. McGrath RentCorp has a 52 week low of $94.99 and a 52 week high of $128.41. The stock has a market cap of $2.86 billion, a P/E ratio of 19.68, a PEG ratio of 1.12 and a beta of 0.51. The firm has a 50 day moving average of $111.92 and a 200 day moving average of $113.08.

McGrath RentCorp (NASDAQ:MGRC) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.28. McGrath RentCorp had a return on equity of 12.59% and a net margin of 15.62%.The company had revenue of $256.76 million for the quarter, compared to analyst estimates of $254.32 million. As a group, analysts forecast that McGrath RentCorp will post 6.18 earnings per share for the current fiscal year.

McGrath RentCorp Company Profile

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.