Rent-A-Center Increases Dividend By 31%
Rent-A-Center, Inc. (RCII), the nation’s largest rent-to-own operator, today announced that its Board of Directors has approved a 31% increase in its quarterly cash dividend from $0.16 per share to $0.21 per share, beginning with the dividend for the first quarter of 2013. The Company declared its eleventh consecutive cash dividend: a$0.21 per share cash dividend for the first quarter of 2013 to be paid to the Company’s common stockholders. The dividend will be paid on January 24, 2013, to common stockholders of record as of the close of business on January 3, 2013.
“We are pleased that the strength of our financial position allows us to increase our dividend payout to shareholders,” said Mark E. Speese, Chairman and Chief Executive Officer of the Company. “This dividend increase reflects not only our confidence in the Company’s strong cash flows, but also our belief that continued investments in our strategic initiatives will generate further growth and provide long-term value for our stockholders. While we continue to focus on both international and RAC Acceptance kiosk expansion, it is our intent to continue returning value to shareholders through increased dividends every year,” Mr. Speese concluded.