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

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

Miller Industries has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Miller Industries has a payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.5%

Shares of MLR stock opened at $50.56 on Thursday. Miller Industries has a 1-year low of $33.81 and a 1-year high of $52.93. The company has a current ratio of 2.98, a quick ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a market cap of $576.37 million, a price-to-earnings ratio of 37.73 and a beta of 1.11. The stock has a 50-day moving average of $49.63 and a 200-day moving average of $46.64.

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

About Miller Industries

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.