Mobile Mini Raises Dividend, Beat Profit And Sales Expectations

Mobile Mini Inc. said on Thursday that it raised its quarterly dividend by 10% to 18.7 cents a share from 17 cents. The new dividend will be paid out on March 19 to shareholders of record on March 5. The portable storage company also reported a fourth-quarter net profit that fell to $6 million, or 13 cents a share, from $11 million, or 24 cents a share, a year ago. Excluding non-recurring items, per-share earnings were 37 cents. Revenue rose to $123.2 million from $106.8 million. The results beat the FactSet consensus estimates for per-share earnings of 36 cents and revenue of $116.6 million. The stock, which was still inactive in premarket trade, has lost 15% over the past three months, while the S&P 500 has gained 1.5%.