United Rentals Declares $1.97 Quarterly Dividend, Maintains Share Repurchase
United Rentals, Inc., a leading equipment rental company, announced a $1.97 per share quarterly dividend payable May 27. The company also completed $375 million in share repurchases during the first quarter.
United Rentals, Inc. (NYSE: URI), the largest equipment rental company in North America, declared a quarterly dividend of $1.97 per share, the company's board of directors announced. The dividend is payable May 27, 2026 to shareholders of record as of May 13, 2026. Read more dividend announcements.
The dividend declaration comes as the company reported $1.514 billion in cash flow from operations for the first three months of 2026, up 6.2% from the prior year period. Free cash flow totaled $1.054 billion, down 2.6% year-over-year.
| Dividend Details | Date |
|---|---|
| Amount Per Share | $1.97 |
| Record Date | May 13, 2026 |
| Payment Date | May 27, 2026 |
Capital Allocation Activity
During the first quarter of 2026, United Rentals paid $125 million in dividends and completed $375 million in share repurchases. The company finished its prior $2.0 billion repurchase program and began a new $5.0 billion authorization approved earlier this year.
United Rentals expects to complete $1.5 billion in total repurchases during 2026, including $1.15 billion under the new $5.0 billion program. The company's net leverage ratio stood at 1.9x as of March 31, 2026, unchanged from December 31, 2025.
Operating Performance
The company's specialty rentals segment generated record first-quarter revenue of $1.190 billion, up 13.8% year-over-year. Rental gross margin in that segment decreased 170 basis points to 41.4%, primarily due to higher depreciation expense, increased delivery costs, and changes in revenue mix from growth in lower-margin ancillary revenues.
Total liquidity reached $3.377 billion as of March 31, 2026, including $156 million in cash and cash equivalents. Return on invested capital was 11.8% for the 12 months ended March 31, 2026.