Cintas raises dividend for 33rd consecutive year

Cintas Corporation (CTAS) will raise its annual dividend to $1.33 per share.

This dividend is payable on December 2, 2016 to shareholders of record as of November 4, 2016.

Scott D. Farmer, Chairman of the Board and Chief Executive Officer of Cintas, said, "We achieved record revenue and earnings per share in fiscal year 2016. Our strong performance continued into the first quarter of fiscal 2017. As a result of our excellent financial results, cash flow, and financial position, we are pleased to announce an increase in the annual dividend for the 33rd consecutive year. The annual dividend is an important part of our capital allocation strategy and illustrates our enduring commitment to effectively deploying cash to increase shareholder value."

Cintas has raised its dividend for 33 straight years

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

At a stock price of $116.39 the dividend yield for Cintas is 1.1%.