Electro Rent Corporation Declares Dividend
Jun 07, 2011 (Close-Up Media via COMTEX) --
Electro Rent Corporation announced that the company's Board of Directors has increased its regular quarterly cash dividend by more than 33 percent to $0.20 per common share from $0.15 per common share.
In a release dated June 2, the Company said this is the second increase since the company initiated its dividend payment in April 2007. Electro Rent will pay the increased quarterly cash dividend on July 8, to shareholders of record as of June 20.
"We have enjoyed considerable prosperity over the last year and are pleased to once again share our success with Electro Rent's shareholders," said Daniel Greenberg, Chairman and Chief Executive Officer of Electro Rent.
"The increase in our regular quarterly dividend signifies Electro Rent's financial stability, solid balance sheet and healthy cash flow generation, and reiterates the Board's confidence as we continue to strengthen our position as the go-to provider of electronic test and measurement equipment."
Electro Rent Corporation is a provider of rental, leasing and sales of general purpose electronic test equipment, personal computers and servers.
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