Cintas hikes dividend by 26.7%

Dividend Aristocrat Cintas Corporation (CTAS) will raise its quarterly dividend by another 26.7 percent to 95 cents per share in Q3 of 2021. This follows a dividend hike from $0.70 to $0.75 per share announced earlier in 2021. Last year the company announced a switch from annual to quarterly dividends. Cintas had announced an increase of its annual dividend by 10.2 percent to $2.81 per share in 2020. The 2021 dividend hike marks the 38th consecutive year of dividend increases. 

The next dividend is payable on September 15, 2021 to shareholders of record as of August 13, 2021. The new annual dividend of $3.80 per share yields 1.0% at a stock price of $388.86. 

Cintas Corporation is a supplier of corporate identity uniform programs, entrance and logo mats, restroom supplies, promotional products, first aid, safety, fire protection products and services, and industrial carpet and tile cleaning. The company’s products and services include uniforms, floor care, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety compliance training. Cintas has paid a dividend every year since the company went public in 1983. The company started paying a quarterly dividend in 2020.