ATLANTA, Nov. 19 /PRNewswire-FirstCall/ -- The Board of Directors of Aaron
Rents, Inc. (NYSE: RNT), the nation's leader in the rental, sales and lease
ownership, and specialty retailing of residential and office furniture,
consumer electronics and home appliances and accessories, has declared the
Company's thirty-fifth consecutive semi-annual cash dividend. The dividend
declared is $.02 per share on Common Stock and $.02 per share on Class A
Common Stock, payable January 2, 2004, to shareholders of record as of the
close of business on December 2, 2003.
The dividend declared represents a 54% increase over the previous semi-
annual rate of $.013 per share. In August 2003 the Company also declared a
50% stock dividend on both Common Stock and Class A Common Stock, which had
the effect of a 3 for 2 stock split.
"The Board of Directors felt it appropriate to increase our dividend
payout at this time," said R. Charles Loudermilk, Sr., Chairman and Chief
Executive Officer of Aaron Rents. "We anticipate record revenues and earnings
for 2003, and our future growth prospects are excellent. Our balance sheet is
extremely strong and we are confident that the Company can continue funding
growth opportunities while increasing dividends to shareholders."
Aaron Rents, Inc. based in Atlanta, currently has over 800 Company-
operated and franchised stores in the United States, Puerto Rico, and Canada
for the rental and sale of residential and office furniture, accessories,
consumer electronics and household appliances. The Company also manufactures
furniture, bedding and accessories at 10 facilities in four states.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this news release regarding Aaron Rents, Inc.'s
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties which could cause actual results to differ
materially from those contained in the forward-looking statements. These
risks and uncertainties include factors such as changes in general economic
conditions, competition, pricing, customer demand and other issues, and the
risks and uncertainties discussed under "Certain Factors Affecting Forward
Looking Statements" in the Company's Annual Report on Form 10-K for fiscal
2002, which discussion is incorporated herein by this reference.
SOURCE Aaron Rents, Inc.
CONTACT: Gilbert L. Danielson, Executive Vice President, Chief Financial
Officer of Aaron Rents, Inc., +1-404-231-0011