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May 11, 2011 Declared

Miller Industries Quadruples Dividend, to Pay Quarterly

MLR

Miller Industries (MLR) announced plans to move from annual to quarterly dividend payments today. Despite the increased frequency, the company is keeping its payout at $0.12 per share, essentially giving shareholders a 300% raise.

The towing and recovery equipment manufacturer initiated its annual dividend last year, and gave shareholders a 20% raise just last month.

Shares of MLR closed Wednesday’s session trading at $16.08, which means today’s move launches their dividend yield from just 0.75% up to a very respectable 2.99%.

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