ATLANTA - Nov. 5, 2014 // PRNewswire // - Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics and home appliances and accessories, today announced that its quarterly dividend rate has been raised to $.023 per share.
The Board of Directors of Aaron's, Inc. declared a quarterly cash dividend of $.023 per share on Common Stock, payable January 2, 2015 to shareholders of record as of the close of business on December 1, 2014. This is an increase of 9.5% from the previous quarterly dividend of $.021 per share.
"We are pleased to announce the ninth consecutive year of an increase in the quarterly dividend rate," said Gilbert L. Danielson, interim Chief Executive Officer and Chief Financial Officer of Aaron's, Inc. "The Company's balance sheet is strong and we are optimistic about future performance."
Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories, currently has more than 2,100 Company-operated and franchised stores in 48 states and Canada. Aaron's was founded in 1955, is headquartered in Atlanta and has been publicly traded since 1982. Progressive Leasing, a wholly-owned subsidiary and leading virtual lease-to-own company, provides lease-purchase solutions through over 15,000 retail locations in 46 states. Aaron's, Inc. includes the Aarons.com, ShopHomeSmart.com and ProgLeasing.com brands. For more information, visit www.aarons.com.
"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, litigation, customer privacy, information security, customer demand, risks related to the Company's recent Progressive acquisition; risks related to its new strategy 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, 2013 as updated in its subsequent Quarterly Reports. Statements in this release that are "forward-looking" include without limitation statements of optimism about future performance. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Except as required by law, the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances after the date of this press release.
SOURCE Aaron's, Inc.
Sharon J. Lawrence