Mac-Gray Keeps Dividend Steady

Laundry room operator Mac-Gray  announced today its third-quarter dividend of $0.0875 per share, the same rate it paid for the past two quarters after raising the payout 45%, from $0.0605 per share.

The board of directors said the quarterly dividend is payable on October 1 to holders of record at the close of business on September 16. 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 2.4% based on the closing price today of Mac-Gray's stock.


TUC Dividend Chart

TUC Dividend data by YCharts.

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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story