"Based upon the current outstanding performance of the Company and our future outlook, the Board of Directors decided to substantially increase the dividend..."
R. Charles Loudermilk, Sr., Chairman and CEO

Aaron Rents, Inc. (RNT) announced that it is increasing the frequency of its historical semi-annual cash dividends to quarterly cash dividends. This new quarterly dividend policy will result in an approximate doubling of the current annual dividend payout to shareholders.

In August the Company also effected a 3 for 2 stock split (see story) through a distribution to shareholders of a 50% stock dividend on both Common Stock and Class A Common Stock.

Aaron Rents has paid thirty-six consecutive semi-annual cash dividends, the last being, on a post-split basis, $.013 per share on Common Stock and $.013 per share on Class A Common Stock paid on July 2, 2004. The next dividend payable will be $.013 per share on Common Stock and $.013 per share on Class A Common Stock, payable October 1, 2004, to shareholders of record as of the close of business on September 1, 2004. It is the intent of the Company to now begin paying quarterly dividends of $.013 per share on both Common Stock and Class A Common Stock.

"Based upon the current outstanding performance of the Company and our future outlook, the Board of Directors decided to substantially increase the dividend to shareholders and begin a quarterly dividend policy," said R. Charles Loudermilk, Sr., Chairman and Chief Executive Officer of Aaron Rents. "These actions are an indication of the confidence we have in the future prospects of the Company."