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BONITA SPRINGS, Fla. - Herc Holdings Inc. (NYSE: NYSE:HRI), a prominent equipment rental supplier in North America, has announced a 5% increase in its quarterly dividend. The company’s Board of Directors approved the dividend hike to $0.70 per share, up from the previous $0.665 per share. According to InvestingPro data, this marks the company’s 4th consecutive year of dividend increases, demonstrating a consistent commitment to shareholder returns.
Shareholders on record as of February 18, 2025, will be eligible for the dividend, which is scheduled for payment on March 4, 2025. This increment raises the annual dividend rate from $2.66 to $2.80 per share.
Larry Silber, the president and chief executive officer of Herc Holdings, expressed confidence in the company’s growth strategy and its commitment to delivering sustainable shareholder returns. Silber also highlighted the company’s focus on positioning itself for future opportunities.
Herc Holdings, founded in 1965 and operating as Herc Rentals Inc., reported total revenues of approximately $3.3 billion in 2023. With 439 locations across North America, the company employs around 7,700 people and offers a comprehensive range of rental equipment and services designed to enhance customer efficiency, effectiveness, and safety.
The information provided is based on a press release statement from Herc Holdings Inc. The company’s forward-looking statements, including projections about business plans, profitability, and growth strategies, are subject to risks and uncertainties that could cause actual results to differ materially from expectations.
In other recent news, United Rentals (NYSE:URI) and its industry peers are facing declines due to Ashtead Group (LON:AHT)’s lowered forecast for the year, citing softer conditions in the U.S. market. This development has had a ripple effect across the sector, impacting key players such as Caterpillar Inc (NYSE:CAT)., Oshkosh (NYSE:OSK) Corporation, and Terex (NYSE:TEX) Corporation, all of which have experienced a drop in their shares. Analyst Mircea Dobre from Baird has expressed concerns over the apparent deceleration in rental demand, suggesting it may intensify as we approach 2025. Dobre singled out United Rentals as potentially facing the highest risk among its peers. Additionally, it was noted that Ashtead is planning to shift its primary listing to the United States. These are some of the recent developments impacting the equipment rental industry.
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