Dividend Aristocrat Cintas starts paying quarterly dividends
The next dividends (annual and first quarterly) will be paid on December 4, 2020 to shareholders of record as of November 6, 2020. The annual dividend of $2.81 per share yields 0.9% at a stock price of $315.54.
Scott D. Farmer, Cintas’ Chairman and Chief Executive Officer, stated, “The COVID-19 coronavirus pandemic has been a significant disruption to the U.S. economy and our business. However, our value proposition of getting our customers Ready for the Workday® has resonated loudly, and our employees, whom we call partners, have been resilient in this difficult environment. In addition, we remain committed to delivering shareholder value, and our double-digit dividend increase even in this difficult environment reflects that commitment.”
Cintas also announced that the Board of Directors approved a change in dividend policy from an annual dividend to quarterly dividends. The Board of Directors also declared a quarterly dividend of $0.70 per share, which is payable on December 4, 2020 to shareholders of record as of November 6, 2020. The Company expects future quarterly dividend payments to occur in March, June, September and December. Any future dividend declarations, including the amount of any dividends, are at the discretion of the Board of Directors and dependent upon then-existing conditions, including the Company’s operating results and financial condition, capital requirements, contractual restrictions, business prospects and other factors that the Board of Directors may deem relevant.
Cintas Corporation helps more than one million businesses of all types and sizes get READY™ to open their doors with confidence every day by providing a wide range of products and services that enhance our customers’ image and help keep their facilities and employees clean, safe and looking their best. With products and services including uniforms, floor care, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety and compliance training, Cintas helps customers get Ready for the Workday®. 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 the Nasdaq-100 Index.