Dividend Aristocrat Cintas announces 7.1% dividend increase in 2021
Late last year Cintas announced that it would start paying a quarterly dividend. Cintas had been one of few US companies to pay a dividend only once a year. At the time the company also announced that it would raise its annual dividend by 10.2 percent to $2.81 per share, marking the 37th consecutive year of dividend increases. In December 2020 Cintas paid its first quarterly dividend of 70 cents.
The next dividend is payable on March 15, 2021 to shareholders of record as of February 15, 2021. The new annual dividend of $3.00 per share yields 0.9% at a stock price of $322.04.
At its October 27, 2020 meeting, the Cintas Board of Directors approved a change in dividend policy from an annual dividend to quarterly dividends. 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.