Herc Holdings Inc. Increases Quarterly Dividend by 5% to $0.665 per share

BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings, Inc. (NYSE: HRI), one of North America’s leading equipment rental suppliers, today announced that its Board of Directors has increased the Company's quarterly dividend by $0.0325 per share, or 5%, to $0.665 per share.

The dividend is payable March 7, 2024, to shareholders of record as of February 21, 2024.

At the new rate, the indicated dividend on an annual basis is $2.66 per share compared to the previous rate of $2.53 per share.

“Investments in the growth of our business, the increase in our dividend, and the share buybacks we made in 2023 underscore the strength of our balance sheet and confidence in our strategic direction as we enter 2024. We remain committed to delivering sustained profit growth and returns to our shareholders,” said Larry Silber, president, chief executive officer.

About Herc Holdings Inc.

Founded in 1965, Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is a full-line equipment rental supplier with approximately 382 locations across North America, and 2022 total revenues of approximately $2.7 billion. We offer products and services aimed at helping customers work more efficiently, effectively, and safely. Our classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment. Our ProSolutions® offering includes industry-specific, solutions-based services in tandem with power generation, climate control, remediation and restoration, pumps, and trench shoring equipment as well as our ProContractor professional grade tools. We employ approximately 7,000 employees, who equip our customers and communities to build a brighter future. Learn more at www.hercrentals.com and follow us on Instagram, Facebook and LinkedIn.

All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated.

Forward-Looking Statements

This press release includes forward-looking statements as that term is defined by the federal securities laws, including statements concerning our business plans and strategy, projected profitability, performance or cash flows, future capital expenditures, our growth strategy, including our ability to grow organically and through M&A, anticipated financing needs, business trends, our capital allocation strategy, liquidity and capital management, and other information that is not historical information. Forward looking statements are generally identified by the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts," "looks," and future or conditional verbs, such as "will," "should," "could" or "may," as well as variations of such words or similar expressions. All forward-looking statements are based upon our current expectations and various assumptions and, there can be no assurance that our current expectations will be achieved. They are subject to future events, risks and uncertainties - many of which are beyond our control - as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on the risks that may affect our business is included in filings we make with the Securities and Exchange Commission from time to time, including our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and in our other SEC filings. We undertake no obligation to update or revise forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.