Rent-A-Center, Inc. (RCII) announced a quarterly cash dividend increase to $0.31 per share, marking a positive step for shareholders. The dividend is set for payment on January 12, 2021, to stockholders on record by the close of business on December 15, 2020. This move reflects the company's commitment to returning value to its investors while maintaining its position as a leading lease-to-own provider, servicing customers through both physical locations and e-commerce.
Rent-A-Center, Inc. (RCII) reported strong Q3 2020 results with total revenues of $712.0 million, a 9.6% increase from last year, driven by a notable 12.9% rise in same-store sales within the Rent-A-Center segment. Adjusted EBITDA reached $92.1 million, up from $56.6 million in Q3 2019. The Company also improved its full-year guidance, anticipating consolidated revenues between $2.795 and $2.825 billion. Strategic investments in digital initiatives and e-commerce contributed to significant growth in customer engagement and profitability. However, higher skip/stolen losses were noted in the Preferred Lease segment.
Rent-A-Center, Inc. (NASDAQ: RCII) will host a conference call on October 29 at 8:30 a.m. ET to discuss its third-quarter results, which will be released after market close on October 28. The call can be accessed by U.S. and Canadian residents at (800) 399-0012, while international participants can call (404) 665-9632. A live webcast and investor presentation will be available on the company’s investor relations website. Rent-A-Center operates approximately 2,100 stores and offers lease-to-own options for furniture, appliances, and electronics.