The acquisition of Mobile Mini (MINI) by Willscot Corp (WSC) has been completed, ending the stock market listing of Mobile Mini. The new Willscot Mobile Mini Holdings Corp will trade under the WSC ticker symbol.
Earlier this year Mobile Mini had raised its quarterly dividend by 10.2 percent to $0.303 per share, following similar sized dividend increases in the previous years by the portable storage solutions provider. Mobile Mini had raised its dividend six consecutive years prior to the acquisition by Willscot. Willscot does not pay a dividend to its shareholders.
Shares of Mobile Mini common stock ceased trading prior to the market open on July 1, 2020, and each share of Mobile Mini common stock has been converted into the right to receive 2.4050 shares of WillScot Class A common stock, less any applicable withholding taxes and, if applicable, cash in lieu of fractional shares.
Mobile Mini hiked its dividend by 10 percent in each of the last six years and was paying an annual dividend amount of $54 million to its shareholders.
Mobile Mini, Inc. is a provider of portable storage solutions through its total rental fleet of portable storage containers and office units and is a provider of tank and pump solutions in the U.S. The company has operarationis in the United States, the United Kingdom and Canada. Mobile Mini Inc. was founded in 1983 and had been paying a dividend since 2014. WillScot Mobile Mini Holdings Corp. trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Based in Phoenix, Arizona, WillScot Mobile Mini Holdings is a North American leader in modular space and portable storage solutions. It was formed in 2020 upon the merger of leaders in the modular space and portable storage markets. Together the WillScot and Mobile Mini brands operate approximately 375 locations across the United States, Canada, Mexico, and the United Kingdom with a combined fleet of over 350,000 portable offices and storage containers. They lease turnkey office space and storage solutions for temporary applications across a diverse customer base in the commercial and industrial, construction, retail, education, health care, government, transportation, security and energy sectors. They create value by enabling customers to add space efficiently and cost-effectively – when the solution is perfect, productivity is all the customer sees.