Miller Industries, Inc. (NYSE:MLR) Declares Dividend Increase – $0.20 Per Share

Posted by Doug Wharley on Mar 6th, 2025

Miller Industries, Inc. (NYSE:MLR – Get Free Report) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Investors of record on Monday, March 17th will be given a dividend of 0.20 per share by the auto parts company on Monday, March 24th. This represents a $0.80 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. This is a 5.3% increase from Miller Industries’s previous quarterly dividend of $0.19.

Miller Industries has raised its dividend by an average of 1.8% annually over the last three years. Miller Industries has a payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Miller Industries to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 12.8%.

Miller Industries Price Performance

Shares of NYSE:MLR traded down $8.14 on Thursday, hitting $46.73. The company’s stock had a trading volume of 559,958 shares, compared to its average volume of 84,745. Miller Industries has a 1 year low of $41.24 and a 1 year high of $78.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.12 and a quick ratio of 1.46. The company has a market capitalization of $534.51 million, a PE ratio of 7.75 and a beta of 0.97. The company has a 50-day simple moving average of $64.21 and a 200 day simple moving average of $65.04.

Wall Street Analyst Weigh In

MLR has been the subject of several research analyst reports. StockNews.com lowered shares of Miller Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. DA Davidson reaffirmed a “buy” rating and set a $82.00 price objective on shares of Miller Industries in a report on Friday, November 15th.

Check Out Our Latest Research Report on MLR

About Miller Industries

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Miller Industries, Inc, together with its subsidiaries, manufactures and sells towing and recovery equipment. The company offers wreckers that are used to recover and tow disabled vehicles and other equipment; and car carriers, which are specialized flat-bed vehicles with hydraulic tilt mechanisms, which are used to transport new or disabled vehicles and other equipment.