Monro, Inc. Declares Quarterly Cash Dividend
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding shares, including Class C Convertible Preferred Stock.
Sentiment and the balance of points
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Rhea-AI Summary
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding shares, including Class C Convertible Preferred Stock. The dividend will be payable on December 22, 2020 to shareholders recorded by December 8, 2020. Monro operates 1,242 company-owned stores and 97 franchised locations across 32 states, specializing in automotive undercar repair and tire services. The company has seen significant growth through acquisitions since its public debut in 1991.
Positive
- Quarterly cash dividend of $.22 per share declared, supporting shareholder income.
- Strong presence with 1,242 company stores and 97 franchises enhances market reach.
Negative
- None.
Details
News Market Reaction – MNRO
The recorded move for MNRO in the trading session of this news was +7.83%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ROCHESTER, N.Y., Nov. 24, 2020 (GLOBE NEWSWIRE) -- Monro, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.22 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled. The dividend is payable on December 22, 2020 to shareholders of record at the close of business on December 8, 2020.
About Monro, Inc.
Headquartered in Rochester, New York, Monro is a chain of 1,242 company-operated stores, 97 franchised locations, seven wholesale locations and three retread facilities providing automotive undercar repair and tire sales and services. The Company operates in 32 states, serving the MidAtlantic and New England regions and portions of the Great Lakes, Midwest, Southeast and Western United States. The predecessor to the Company was founded by Charles J. August in 1957 as a Midas Muffler franchise. In 1966, Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of newly constructed stores. The Company went public in 1991 and trades on The Nasdaq Stock Market under the symbol MNRO.
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