McGrath RentCorp (NASDAQ:MGRC) Announces Quarterly Dividend of $0.49

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Friday, September 18th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.4950 per share by the financial services provider on Friday, October 30th. This represents a $1.98 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, October 16th.

McGrath RentCorp has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect McGrath RentCorp to earn $7.04 per share next year, which means the company should continue to be able to cover its $1.98 annual dividend with an expected future payout ratio of 28.1%.

McGrath RentCorp Stock Performance

Shares of MGRC stock opened at $114.64 on Wednesday. The stock has a fifty day moving average of $114.71 and a two-hundred day moving average of $114.58. The firm has a market capitalization of $2.80 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.14 and a beta of 0.47. McGrath RentCorp has a 1 year low of $94.99 and a 1 year high of $125.83.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, July 29th. The financial services provider reported $1.37 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.10). McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.44%. The company had revenue of $221.11 million for the quarter, compared to analyst estimates of $236.51 million. Equities research analysts predict that McGrath RentCorp will post 6.37 earnings per share for the current fiscal year.

About McGrath RentCorp

McGrath RentCorp was a business-to-business rental company headquartered in Livermore, California. The company provided temporary and longer-term rental solutions for modular buildings, portable storage, electronic test equipment and related products, serving customers in the education, government, construction, commercial and industrial sectors.

Its Mobile Modular business supplied relocatable classrooms, office buildings and other modular structures, while its TRS-RenTelco operation rented electronic test and measurement equipment used by telecommunications, electronics, aerospace and other industrial customers.