Mac-Gray Keeps Dividend Steady

Laundry room operator has raised payout every year since initiating dividend in 2010.

By Rich Duprey – May 28, 2013 at 10:58AM EST

Laundry room operator Mac-Gray (NYSE: TUC) announced this morning its second-quarter dividend of $0.0875 per share, the same rate it paid last quarter after raising the payout 45%, from $0.0605 per share.

The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 17. Mac-Gray has paid dividends since 2010 and has raised the payout every year since initiating it.

The regular dividend payment equates to a $0.35-per-share annual dividend, yielding 2.6% based on the closing price of Mac-Gray's stock on May 24.

TUC Dividend data by YCharts.

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About the Author

Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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