Rent-A-Center more than doubles stock dividend
Furniture Today Staff -- Furniture Today, May 16, 2011
PLANO, Texas — Rent-A-Center, the nation's biggest rent-to-own operator, has more than doubled its quarterly cash dividend.
The company said the dividend will be raised from 6 cents per share to 16 cents per share, payable July 20 to stockholders of record July 1.
"Our strong financial position enables us to enhance our returns to stockholders through a dividend increase," said Mark Speese, chairman and CEO. "In addition to reflecting the company's confidence in its strong cash flows, this dividend increase represents our belief that continued investments in our strategic initiatives will generate growth and provide long-term value for our stockholders."
Rent-A-Center has about 3,018 stores in North America. It also has approximately 208 franchised ColorTyme stores.
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