Mac-Gray Keeps Dividend Steady

Laundry room operator Mac-Gray  announced this morning its second-quarter dividend of $0.0875 per share, the same rate it paid last quarter after raising the payout 45%, from $0.0605 per share.

The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 17.  Mac-Gray has paid dividends since 2010 and has raised the payout every year since initiating it.

The regular dividend payment equates to a $0.35-per-share annual dividend, yielding 2.6% based on the closing price of Mac-Gray's stock on May 24.


TUC Dividend Chart

TUC Dividend data by YCharts.

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The article Mac-Gray Keeps Dividend Steady originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of Mac-Gray. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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