Cintas Corp. (CTAS) Raises Annual Dividend 24.4% to $2.55; Approves $1B Buyback Program

Cintas Corp. (NASDAQ: CTAS) declared an annual dividend of $2.55 per share, or $2.55 annualized. This is a 24.4% increase from the prior dividend of $2.05.

The dividend will be payable on December 6, 2019, to stockholders of record on November 8, 2019, with an ex-dividend date of November 7, 2019.

The annual yield on the dividend is 0.9 percent.

Cintas also announced that the Board of Directors approved an additional share buyback program under which the Company may buy up to $1.0 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, and purchases may be discontinued at any time.

Scott D. Farmer, Cintas’ Chairman and Chief Executive Officer, stated, “We achieved record revenue and net income in our fiscal 2019, and this fiscal year is off to a good start. Given our excellent financial results and strong financial position, we are pleased to announce an increase in the annual dividend. The dividend, accompanied by our share buyback program, continues to demonstrate our commitment to increasing shareholder value.”

For a dividend history and other dividend-related data on Cintas Corp. (CTAS) click here.

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