LONDON, UK / ACCESSWIRE / October 13, 2017 / Pro-Trader Daily takes a closer look at McGrath RentCorp (NASDAQ: MGRC) as the Company's stock will begin trading ex-dividend on October 16, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior (excluding weekend) to the ex-dividend date that by the latest at the end of the trading session on October 13, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On September 20, 2017, McGrath RentCorp's Board of Directors declared a quarterly cash dividend of $0.26 per common share for the quarter ended September 30, 2017. The dividend will be payable on October 31, 2017, to all shareholders of record on October 17, 2017
McGrath RentCorp's indicated dividend represents a yield of 2.26%, which is substantially higher compared to the average dividend yield of 1.91% for the Services sector. The year 2017 marks the 25th consecutive year that McGrath RentCorp has raised its dividend to shareholders.
Dividend Insights
McGrath RentCorp has a dividend payout ratio of 24.7%, which indicates that the Company distributes approximately $0.55 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, McGrath RentCorp is forecasted to report earnings of $2.04 for the next year, which is substantially above the Company's annualized dividend of $1.04 per share.
As of June 30, 2017, McGrath RentCorp's cash totaled $1.87 million, compared to cash of $852,000 as of December 31, 2017. The Company's total assets were worth $1.15 billion as on June 30, 2017, compared to total liabilities of $747.76 million on the same day. For the six months ended June 30, 2017, the Company generated cash from operating activities of $19.43 million versus $15.65 million in the year ago corresponding period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for McGrath RentCorp
On October 02, 2017, McGrath RentCorp announced plans to release financial results for its third quarter ending September 30, 2017, after the close of regular market trading on Tuesday, October 31, 2017. The Company will host a conference call at 5:00 p.m. Eastern Time on the same day afternoon to discuss the results.
About McGrath RentCorp (NASDAQ: MGRC)
Founded in 1979, McGrath RentCorp is a diversified business-to-business rental Company. Headquartered in Livermore, California, McGrath RentCorp rents and sells relocatable modular buildings, electronic test equipment, and liquid and solid containment tanks and boxes in the United States and internationally. The Company operates through four segments: Mobile Modular, TRS-RenTelco, Adler Tanks, and Enviroplex.
Stock Performance
McGrath RentCorp's share price finished yesterday's trading session at $46.44, marginally advancing 0.48%. A total volume of 40.87 thousand shares have exchanged hands. The Company's stock price skyrocketed 36.75% in the last three months, 41.84% in the past six months, and 47.99% in the previous twelve months. Additionally, the stock surged 18.50% since the start of the year. Shares of the Company have a PE ratio of 26.61 and have a dividend yield of 2.24%. The stock currently has a market cap of $1.11 billion.
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