ATLANTA, Nov. 3, 2010 /PRNewswire via COMTEX/ -- Aaron's, Inc. (NYSE: AAN), the nation's leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics and home appliances and accessories, today announced that its quarterly dividend rate has been raised to $.013 per share.
The Board of Directors of Aaron's, Inc. declared a quarterly cash dividend of $.013 per share on Common Stock and $.013 per share on Class A Common Stock, payable January 4, 2011 to shareholders of record as of the close of business on December 1, 2010. This is an increase of 8.3% from the previous quarterly dividend of $.012 per share on both classes of stock.
"We have increased our quarterly dividend rate now for five consecutive years," said Robert C. Loudermilk, Jr., President and Chief Executive Officer. "This dividend increase is a result of Aaron's growth and financial performance, and we continue to remain confident in the Company's future prospects."
Aaron's, Inc., based in Atlanta, currently has more than 1,770 Company-operated and franchised stores in 48 states and Canada. The Company also manufactures furniture and bedding at 11 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, 2009. Statements in this release that are "forward-looking" include without limitation Aaron's potential future growth and financial performance.
SOURCE Aaron's, Inc.