Cintas Corp. (CTAS) Declares $0.70 Quarterly Dividend, Increase of 10.2%

Cintas Corp. (NASDAQ: CTAS) declared a quarterly dividend of $0.70 per share, or $2.8 annualized.

The dividend will be payable on December 4, 2020, to stockholders of record on November 6, 2020, with an ex-dividend date of November 5, 2020.

The annual yield on the dividend is 0.9 percent.

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Cintas Corporation (Nasdaq: CTAS) announced that the Company’s Board of Directors approved a $2.81 per share annual dividend at its meeting today, representing an increase of 10.2% over last year’s dividend. This is the 37th consecutive year that the annual dividend has increased, which is every year since Cintas’ initial public offering in 1983. This dividend is payable on December 4, 2020 to shareholders of record as of November 6, 2020.

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.

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

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