ATLANTA, Nov. 5 // PRNewswire-FirstCall // -- Aaron Rents, Inc. (NYSE: RNT), the nation's leader in the sales and lease ownership, specialty retailing and rental of residential and office furniture, consumer electronics and home appliances and accessories, today announced that the quarterly dividend rate has been raised to $.017 per share.
The Board of Directors of Aaron Rents declared a quarterly cash dividend of $.017 per share on Common Stock and $.017 per share on Class A Common Stock, payable January 2, 2009 to shareholders of record as of the close of business on December 1, 2008. This is an increase of 6.3% from the previous quarterly dividend of $.016 per share on both classes of stock.
"Our directors were pleased to approve this dividend increase as a way to reward our shareholders for their confidence in Aaron Rents," said Robert C. Loudermilk, Jr., President and Chief Executive Officer. "We remain positive about our Company's prospects for continuing growth even in difficult economic times."
Aaron Rents, Inc., based in Atlanta, currently has more than 1,585 Company- operated and franchised stores in 48 states and Canada for the rental and sale of residential and office furniture, accessories, consumer electronics and household appliances. The Company also manufactures furniture, bedding and accessories at 12 facilities in five states.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release regarding Aaron Rents, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those contained in the forward-looking statements. These risks and uncertainties include factors such as changes in general economic conditions, competition, pricing, customer demand and other issues, and the risks and uncertainties discussed under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2007. Statements in this release that are "forward-looking" include without limitation references to Aaron Rents' potential future growth.
SOURCE Aaron Rents, Inc.