VAN NUYS, Calif.--(BUSINESS WIRE)--Electro Rent Corporation (NASDAQ:ELRC) announced today that its Board of Directors has declared a special year-end cash dividend of $1.00 per common share. The special dividend will be paid on December 21, 2012 to shareholders of record as of December 10, 2012. Electro Rent also declared a regular quarterly cash dividend of $0.20 per common share. The regular quarterly dividend will be paid on December 21, 2012 to shareholders of record as of December 10, 2012.
“This special dividend continues our long-standing commitment to sharing our success with our shareholders,” said Daniel Greenberg, Chairman and CEO of Electro Rent. “I, along with the rest of Electro Rent’s board members, believe that we can return capital to our shareholders while maintaining the balance sheet flexibility necessary to act swiftly should strategic opportunities arise.”
About Electro Rent
Electro Rent Corporation (www.ElectroRent.com) is one of the largest global organizations devoted to the rental, leasing and sales of general purpose electronic test equipment, personal computers and servers.