- 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.
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