Rent-A-Center (RCII) will raise its quarterly dividend by 16.0 percent to $0.29 per share. Earlier this year the company reinstated a dividend of 8 cents per share quarterly.

The dividend will be paid on January 29, 2020 to the Company’s common stockholders of record as of the close of business on January 6, 2020.

“We are pleased that the continued strength of our financial position allows us to increase our dividend payout to shareholders,” said Mitchell E. Fadel, Chief Executive Officer of the Company. “This dividend increase reflects not only our confidence in the Company’s strong recurring cash flows, but also our belief that continued investments in the retail partner virtual lease-to-own industry will generate further growth and provide long-term value for our stockholders,” Mr. Fadel concluded.

A lease-to-own industry leader, Plano, Texas-based, Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, under flexible lease purchase agreements with no long-term obligation. The Company owns and operates approximately 2,100 stores in the United States, Mexico, and Puerto Rico, approximately 1,100 Acceptance Now kiosk locations in the United States and Puerto Rico, and Merchants Preferred, a virtual lease-to-own provider in the United States. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 340 lease-to-own stores operating under the trade names of "Rent-A-Center", "ColorTyme", and "RimTyme".