Miller Industries, Inc. Announces Quarterly Dividend of $0.21 (NYSE:MLR)

Miller Industries, Inc. (NYSE:MLR) declared a quarterly dividend on Wednesday, August 5th. Stockholders 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) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 8th.

Miller Industries has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Miller Industries has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Miller Industries to earn $2.98 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 28.2%.

Miller Industries Stock Down 0.5%

Shares of MLR stock opened at $50.56 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.78 and a current ratio of 2.98. The firm’s 50-day moving average is $49.63 and its 200-day moving average is $46.64. The stock has a market cap of $576.37 million, a price-to-earnings ratio of 37.73 and a beta of 1.11. Miller Industries has a 52-week low of $33.81 and a 52-week high of $52.93.

Miller Industries (NYSE:MLR) last issued its earnings results on Wednesday, August 5th. The auto parts company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.27. Miller Industries had a net margin of 2.08% and a return on equity of 3.70%. The business had revenue of $239.99 million during the quarter, compared to the consensus estimate of $210.80 million. Sell-side analysts predict that Miller Industries will post 1.9 EPS for the current 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.