Miller Industries, Inc. (MLR) to Issue Quarterly Dividend of $0.21 on September 15th

Miller Industries, Inc. (NYSE:MLR) announced a quarterly dividend on Friday, July 31st. Investors of record on Tuesday, September 8th will be given a dividend of 0.21 per share by the auto parts company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 8th.

Miller Industries has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Miller Industries has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 30.2%.

Miller Industries Price Performance

Shares of NYSE MLR opened at $56.05 on Friday. Miller Industries has a 1-year low of $35.72 and a 1-year high of $59.70. The business’s 50 day moving average is $52.65 and its two-hundred day moving average is $48.73. The stock has a market capitalization of $636.28 million, a P/E ratio of 45.20 and a beta of 1.12.

Miller Industries (NYSE:MLR) last announced its earnings results on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.27. The business had revenue of $239.99 million for the quarter, compared to the consensus estimate of $210.80 million. Miller Industries had a net margin of 1.86% and a return on equity of 3.41%. As a group, equities research analysts anticipate that Miller Industries will post 1.95 earnings per share for the current fiscal year.

Miller Industries Company Profile

Miller Industries, Inc is a leading designer, engineer and manufacturer of towing and recovery vehicles and related equipment. The company’s product portfolio includes light-, medium- and heavy-duty tow trucks, integrated carriers, rotators, wreckers, trailers and associated hydraulic and electronic components. These products are marketed under well-known brand names, including Miller, Century, Holmes, Vulcan, Chevron and Jige International, serving a broad spectrum of customers in the towing, recovery, roadside assistance and vehicle transport industries.

Headquartered in Ooltewah, Tennessee, Miller Industries was founded in the early 1990s and has grown into a global supplier of towing and recovery solutions.