Aaron Rents, Inc.

Aaron Rents, Inc. (RNT) recently declared a quarterly dividend of $0.017, noting that it is payable on April 1 to shareholders of record as of the close of business on March 6. The company’s yield of 0.3% is above the industry average as virtually none of RNT’s competitors offer dividend income.

Company Description

Aaron Rents caters to the moderate-income customer, offering affordable payment plans, quality merchandise and superior service. The company is considered a pioneer in the furniture rental industry, engaging in the lease ownership, rental and retail sale of residential and office furniture, consumer electronics as well as home appliances and accessories.

RNT was founded by R. Charles Loudermilk, Sr. who has held the position of Chairman since it’s inception in 1955. Aaron Rents has more than 1,585 company operated and franchised stores in the United States and Canada.

Recent Events

The company recently announced that fourth-quarter that revenues increased 11% to $404.9 million on a year-over-year basis. Earnings per share were of 39 cents topped the year-ago 28 cents and surpassed the consensus estimate of 34 cents.

"There is no question we are pleased and excited with these results," said Robert C. Loudermilk, Jr., President and Chief Executive Officer of Aaron Rents. "As we have experienced for quite some time, we continue to gain revenues and customers even in this economic environment. As more people see the availability of their credit diminish or disappear, we expect our business will continue to be strong as we satisfy our customers' ongoing demand for basic home furnishings."

Rewarding Shareholders with Higher Income

Aaron Rents recently declared a quarterly dividend of $0.017, noting that it is payable on April 1 to shareholders of record as of the close of business on March 6. The company’s yield of 0.3% is above the industry average as virtually none of RNT’s competitors offer dividend income.

Higher Estimates

Analysts are forecasting earnings per share of $1.80 for 2009, up from last month’s $1.76. For the following year, projections stand at $2.04, above last month’s $1.90.

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