Press release
Cintas Corporation Announces 26.7% Increase in Quarterly Dividend and New $1.5 Billion Stock Buyback Authorization
CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.95
About this update from Cintas Corporation
[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nCintas Corporation (Nasdaq: CTAS) announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.95 per share of common stock payable on September 15, 2021 to shareholders of record at the close of business on August 13, 2021. This represents a 26.7% increase over the Company's previous quarterly dividend. Cintas has a strong record of returning capital to its shareholders and has consistently raised its dividend each year since Cintas’ initial public offering 38 years ago in 1983.\n\nCintas also announced that the Board of Directors approved an additional share buyback program under which the Company may buy up to $1.5 billion of Cintas common stock at market prices. The number of shares to be purchased and the timing will be determined at the discretion of the Board of Directors, and purchases may be discontinued at any time.\n\nTodd M. Schneider, Cintas’ President and Chief Executive Officer, stated, “We achieved record revenue and earnings per share in our fiscal 2021. Given our excellent financial results and strong financial position, we are pleased to announce an increase in the quarterly dividend. The dividend, accompanied by our share buyback program, continues to demonstrate our commitment to increasing shareholder value.”\n\nCintas\n\nCintas Corporation helps more than one million businesses of all types and sizes get Ready™ to open their doors with confidence every day by providing products and services that help keep their customers’ facilities and employees clean, safe and looking their best. With offerings including uniforms, mats, mops, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety training, Cintas helps customers get Ready for the Workday®. The Company is also the creator of the Total Clean Program™ — a first-of-its-kind service that includes scheduled delivery of essential cleaning supplies, hygienically clean laundering, and sanitizing and disinfecting products and services. Headquartered in Cincinnati, Cintas is a publicly held Fortune 500 company traded over the Nasdaq Global Select Market under the symbol CTAS and is a component of both the Standard & Poor’s 500 Index and Nasdaq-100 Index.\n\nCAUTION CONCERNING FORWARD-LOOKING STATEMENTS\n\nThe Private Securities Litigation Reform Act of 1995 provides a ...