Miller Industries, Inc. (MLR) Declares $0.18 Dividend

Miller Industries, Inc. said on March 8, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of March 17, 2023 to qualify for the dividend. Shareholders of record as of March 20, 2023 will receive the payment on March 27, 2023.

At the current share price of $31.27 / share, the stock's dividend yield is 2.30%. Looking back five years and taking a sample every week, the average dividend yield has been 2.39%, the lowest has been 1.53%, and the highest has been 3.33%. The standard deviation of yields is 0.40 (n=235).

The current dividend yield is 0.21 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 291 funds or institutions reporting positions in Miller Industries, Inc.. This is a decrease of 10 owner(s) or 3.32% in the last quarter. Average portfolio weight of all funds dedicated to MLR is 0.17%, an increase of 15.19%. Total shares owned by institutions decreased in the last three months by 0.02% to 12,880K shares. The put/call ratio of MLR is 0.16, indicating a bullish outlook.

What are Large Shareholders Doing?

Thrivent Financial For Lutherans holds 867K shares representing 7.60% ownership of the company. In it's prior filing, the firm reported owning 827K shares, representing an increase of 4.63%. The firm increased its portfolio allocation in MLR by 23.91% over the last quarter.

Hotchkis & Wiley Capital Management holds 587K shares representing 5.14% ownership of the company. In it's prior filing, the firm reported owning 597K shares, representing a decrease of 1.70%. The firm increased its portfolio allocation in MLR by 10.01% over the last quarter.

Royce & Associates holds 517K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 572K shares, representing a decrease of 10.72%. The firm increased its portfolio allocation in MLR by 4.54% over the last quarter.

AASMX - Thrivent Small Cap Stock Fund holds 479K shares representing 4.20% ownership of the company. In it's prior filing, the firm reported owning 417K shares, representing an increase of 12.94%. The firm increased its portfolio allocation in MLR by 7.62% over the last quarter.

Systematic Financial Management holds 382K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 375K shares, representing an increase of 1.74%. The firm decreased its portfolio allocation in MLR by 41.13% over the last quarter.

Miller Industries Background Information
(This description is provided by the company.)

Miller Industries was founded in 1990. Since its inception, the company has provided innovative high quality towing and recovery equipment world wide.

This story originally appeared on Fintel.