Herc Holdings Inc. Increases Quarterly Dividend by 10% to $0.6325 Per Share

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

dividends

02/08/2023 - 08:30 AM

BONITA SPRINGS, Fla.--(BUSINESS WIRE)-- Herc Holdings, Inc. (NYSE: HRI), one of North America’s leading equipment rental suppliers, today announced that its Board of Directors has increased the Company's quarterly dividend by $0.0575 per share, or 10%, to $0.6325 per share.

The dividend is payable March 9, 2023, to shareholders of record as of February 22, 2023.

“Investments in the growth of our Company, the increases in our dividend, and the share buy backs we made during 2022 demonstrate the confidence we have in our business, our value proposition, and our ability to generate increased returns for shareholders,” said Larry Silber, president and chief executive officer.

At the new rate, the indicated dividend on an annual basis is $2.53 per share compared to the previous rate of $2.30 per share.

About Herc Holdings Inc.
Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 351 locations in North America. With over 57 years of experience, we are a full-line equipment rental supplier offering a broad portfolio of equipment for rent. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. Our equipment rental business is supported by ProSolutions®, our industry specific solutions-based services, which includes power generation, climate control, remediation and restoration, pumps, trench shoring, studio and production equipment, and our ProContractor professional grade tools. Our product offerings and services are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 6,400 employees who equip our customers and communities to build a brighter future. Herc Holdings’ 2021 total revenues were approximately $2.1 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.

Forward-Looking Statements
This press release includes forward-looking statements as that term is defined by the federal securities laws, including statements concerning our business plans and strategy, projected profitability, performance or cash flows, future capital expenditures, our growth strategy, including our ability to grow organically and through M&A, anticipated financing needs, business trends, the impact of and our response to COVID-19, our capital allocation strategy, liquidity and capital management, and other information that is not historical information. Forward looking statements are generally identified by the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," "looks," and future or conditional verbs, such as "will," "should," "could" or "may," as well as variations of such words or similar expressions. All forward-looking statements are based upon our current expectations and various assumptions and, there can be no assurance that our current expectations will be achieved. They are subject to future events, risks and uncertainties - many of which are beyond our control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on the risks that may affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and in our other SEC filings. We undertake no obligation to update or revise forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.