This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mobile Mini Initiates Quarterly Cash Dividend And Authorizes $125 Million Share Repurchase Program

Mobile Mini, Inc. (NASDAQ GS:MINI), the world’s leading supplier of portable storage solutions, today announced that its Board of Directors has authorized the payment of quarterly cash dividends, the first cash dividends in the Company’s history, as well as a share repurchase program. The announcement highlights the Company’s confidence in its long-term strategy, operational excellence, expected revenue and earnings growth, and the maintenance of a strong and consistent free cash flow profile.

Capital Allocation Highlights
  • Initiating a regular quarterly cash dividend of $0.17 per share, or $0.68 per share annually. The initial quarterly dividend will be payable on March 20, 2014 to all common shareholders of record as of March 6, 2014.
  • Authorizing a repurchase program for up to $125 million of common stock in open market and private transactions.
  • The dividend initiation and share repurchase program do not diminish the Company’s ability to aggressively deploy capital for organic growth opportunities or pursue potential acquisitions.
  • Strong balance sheet and stable free cash flow generation supports an ongoing shareholder payout.
  • Targeting debt/adjusted EBITDA between 3.0-4.0x on a sustained basis.

“Our unique market position and superior business model allow us to combine a growth strategy with significant returns to our shareholders. We have a long track record of creating value by aggressively investing in our business,” said Erik Olsson, Mobile Mini’s President and CEO. “Our decision to declare a quarterly dividend is a result of our strong operating results and consistent free cash flow generation. As a result, we have substantial financial flexibility, which enables us to continue to invest in numerous organic and strategic growth opportunities, while at the same time enhancing returns to shareholders.”

Mark Funk, Mobile Mini’s Executive Vice President and Chief Financial Officer added, “Our strong free cash flow totaled $103.5 million over the last twelve months and has enabled us to reduce our debt-to-adjusted EBITDA ratio to approximately 3.5x. The durability of our business model, as evidenced by our performance over the last cycle, its significant operating leverage, and its capacity to generate free cash flow, will continue to support our ongoing growth initiatives, while driving value to our shareholders through the cash dividend and our share repurchase program.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.69 -0.59%
FB $119.49 1.43%
GOOG $711.11 1.40%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs