McGrath RentCorp (MGRC) will raise its quarterly dividend by 4.6 percent to 45.5 cents quarterly in 2022. This follows a dividend hike of 3.6 percent to 43.5 cents per share in 2021 and marks the 31st consecutive year of annual dividend increases by the rental company. At a stock price of $80.67 the dividend yields 2.2% to MGRC shareholders.

McGrath RentCorp is a diversified business-to-business rental company. McGrath RentCorp operates through five divisions: Mobile Modular, Mobile Modular Portable Storage, TRS-RenTelco, Adler Tanks and Enviroplex.The company’s Mobile Modular division rents and sells modular buildings to fulfill customers’ temporary and permanent classroom and office space needs. The company’s TRS-RenTelco division rents and sells electronic test equipment and the company’s Adler Tank Rentals subsidiary rents and sells containment solutions for hazardous and nonhazardous liquids and solids. McGrath RentCorp has paid a dividend to shareholders every year since 1990.