ATLANTA, Nov. 7, 2013 /PRNewswire/ -- Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics and home appliances and accessories, today announced that its quarterly dividend rate has been raised to $.021 per share.
The Board of Directors of Aaron's, Inc. declared a quarterly cash dividend of $.021 per share on Common Stock, payable January 3, 2014 to shareholders of record as of the close of business on December 2, 2013. This is an increase of 23.5% from the previous quarterly dividend of $.017 per share, and represents the eighth consecutive year of an increase in the dividend rate.
"With our financial performance and strong balance sheet we feel continuing to increase the dividend rate is appropriate at this time," said Ronald W. Allen, Chairman, President and Chief Executive Officer. "We remain optimistic on the future prospects for the Company."Aaron's, Inc., based in Atlanta, currently has more than 2,115 Company-operated and franchised stores in 48 states and Canada. The Company's Woodhaven Furniture Industries division manufactures furniture and bedding at 14 facilities in seven states. "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 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, 2012. Statements in this release that are "forward-looking" include without limitation Aaron's potential future growth and financial performance. SOURCE Aaron's, Inc.