McGrath RentCorp (MGRC) to Distribute Quarterly Dividend of $0.49 on July 31st

McGrath RentCorp (NASDAQ:MGRC) declared a quarterly dividend on Wednesday, June 3rd. Investors of record on Friday, July 17th will be paid a dividend of 0.495 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, July 17th.

McGrath RentCorp has raised its dividend payment 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 dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect McGrath RentCorp to earn $7.07 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 28.0%.

McGrath RentCorp Stock Down 1.1%

McGrath RentCorp stock opened at $115.88 on Wednesday. The stock has a market capitalization of $2.85 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.19 and a beta of 0.43. McGrath RentCorp has a twelve month low of $94.99 and a twelve month high of $128.41. The company has a 50 day moving average of $114.25 and a 200-day moving average of $112.44.

McGrath RentCorp (NASDAQ:MGRC) last released its earnings results on Wednesday, April 29th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.03). The firm had revenue of $198.54 million during the quarter, compared to the consensus estimate of $198.19 million. McGrath RentCorp had a net margin of 16.38% and a return on equity of 12.84%. Equities analysts anticipate that McGrath RentCorp will post 6.35 EPS for the current fiscal 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.