Aaron's quarterly dividend rises to 17 cents per share

Furniture Today Staff -- Furniture Today, November 8, 2012

ATLANTA — Aaron's board has declared a 13.3% increase in the rent-to-own merchant's quarterly dividend, raising it to 17 cents from 15 cents.

The next dividend will be payable Jan. 4 to shareholders of record on Dec. 3.

"This is our seventh consecutive year of increasing the quarterly dividend rate," said Ron Allen, Aaron's chairman, president and CEO. "This dividend increase is a result of Aaron's growth and financial performance, and we continue to be quite optimistic on the future prospects for the company."

Separately, the board named Allen chairman to succeed founder and longtime executive Charlie Loudermilk, who retired from the post in September. Allen has been CEO of Aaron's since November 2011 and was named president this February, and has served on the board since 1997. From 1987 to 1997 he was chairman and CEO of Delta Air Lines.

Atlanta-based Aaron's has more than 2,000 company-operated and franchised stores in 48 states and Canada, and also manufactures furniture and bedding at 14 facilities in eight states.