Ryder Increases Dividend, Adds Maintenance Facility

Ryder executives gather as Marysville Mayor Jon Nehring (third from left) cuts the ribbon at the new facility. (Ryder System Inc.)

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Ryder System Inc. increased its regular quarterly cash dividend by 2 cents to 56 cents per share.

It will be paid on Sept. 20 to shareholders of record on Aug. 19, the company said. It had been paying a dividend of 54 cents since July 2018.

This is Ryder’s 172nd consecutive quarterly cash dividend — marking more than 43 years of uninterrupted dividend payments, according to the Miami-based company.

Additionally, Ryder announced it opened a state-of-the-art maintenance facility in Marysville, Wash., 37 miles from fast-growing Seattle.

“As Ryder looks to better serve our new and existing ChoiceLease and commercial rental customers, we wanted to ensure we had a premier shop in an optimal location and this new facility fits both those needs,” said Dennis Cooke, president of Ryder Fleet Management Solutions.

The Marysville location offers nearly 16,000 square feet including nine workstations and has a 1,000-unit capacity and two 24/7 mobile maintenance units. Ryder Mobile Maintenance allows local fleets to schedule maintenance outside of the traditional 8 a.m. to 5 p.m. window.

The new site includes an exterior covered truck wash bay and features a full-service rental counter for businesses in need of commercial vehicles. In addition, the new location features several new conference rooms equipped with enhanced technology for both internal and customer meetings. The facility also will soon offer a diesel fuel service island for Ryder customers.

Ryder Supply Chain Solutions ranks No. 11 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics