ATLANTA // PRNewswire-FirstCall // -- Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential and office furniture, consumer electronics and home appliances and accessories, today announced that its quarterly dividend rate has been raised to $.018 per share.
The Board of Directors of Aaron's, Inc. declared a quarterly cash dividend of $.018 per share on Common Stock and $.018 per share on Class A Common Stock, payable January 4, 2010 to shareholders of record as of the close of business on December 1, 2009. This is an increase of 5.9% from the previous quarterly dividend of $.017 per share on both classes of stock.
"This is the fifth consecutive year we have increased our dividend rate," said Robert C. Loudermilk, Jr., President and Chief Executive Officer. "This is a reflection of the Company's performance and we believe Aaron's will continue to grow in future periods with excellent financial returns for our shareholders."
Aaron's, Inc., based in Atlanta, currently has more than 1,665 Company-operated and franchised stores in 48 states and Canada. The Company also manufactures furniture and bedding 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's, Inc.'s business that 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, 2008. Statements in this release that are "forward-looking" include without limitation Aaron's potential future growth and financial performance.
SOURCE Aaron's, Inc.