Mobile Mini (MINI) Declares $0.275 Quarterly Dividend; 3.2% Yield

Mobile Mini (NASDAQ: MINI) declared a quarterly dividend of $0.275 per share, or $1.1 annualized.

The dividend will be payable on May 29, 2019, to stockholders of record on May 15, 2019, with an ex-dividend date of May 14, 2019.

The annual yield on the dividend is 3.2 percent.

Erik Olsson, Mobile Mini’s Chief Executive Officer, remarked, “I am very pleased with our performance and profitability in the first quarter, including our 15.8% increase in adjusted EBITDA. Our Tank & Pump division is starting to show its real potential and delivered 35.3% growth in adjusted EBITDA with an adjusted EBITDA margin of 34.9%, which was a 520 basis point increase over last year. Our North America Storage Solutions business is also very healthy, with year-over-year rate increases of 3.2% on our core business coupled with a 2% increase in units on rent. In the United Kingdom, where Brexit continues to cause uncertainty in the general economy, we managed to increase rates and grow trucking and ancillary revenues to offset a small decrease in units on rent, resulting in increased rental revenues in local currency.”

Mr. Olsson continued, “Our outlook remains very positive for the remainder of 2019. In our Tank & Pump business, we have demonstrated to our customers that we provide outstanding service and product, along with technology tools that deliver improved customer efficiency. We believe we are positioned to capitalize on the growth in demand throughout this industry and gain additional business with existing and new customers. Pending orders in the North American Storage Solutions segment remain well above the prior-year at this time and the pipeline remains solid. Overall, North American economic indicators are positive and, for 2019 rental revenue growth we expect to exceed our Evergreen target, while delivering margin expansion, strong free cash flow and meaningful de-leveraging.”

For a dividend history and other dividend-related data on Mobile Mini (MINI) click here.

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