Electro Rent Corp (ELRC) Lowers Quarterly Dividend 37.5% to $0.125; 4.6% Yield
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Electro Rent Declares Quarterly Cash Dividend
June 12, 2015 4:05 PM EDTVAN NUYS, Calif.--(BUSINESS WIRE)-- Electro Rent Corporation (Nasdaq: ELRC) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.125 per common share, payable on July 10, 2015 to shareholders of record as of June 22, 2015.
This dividend payment represents a reduction from Electro Rents prior dividend of $0.20 per common share, and reflects the Boards decision to strengthen the companys capital structure and preserve a sustainable return to its shareholders.
On an annualized basis, the current dividend represents a 4.7% yield on the June 11, 2015 closing share price of... More
