Cintas Corporation Announces 15.6% Increase in Quarterly Cash Dividend and New $1.0 Billion Stock Buyback Authorization
23 Julio 2024 - 3:00PM
Business Wire
Cintas Corporation (Nasdaq: CTAS) announced that the
Company’s Board of Directors approved a quarterly cash dividend of
$1.56 per share of common stock payable on September 3, 2024, to
shareholders of record at the close of business on August 15, 2024.
This represents a 15.6% increase over the prior quarter. Cintas has
a strong record of returning capital to its shareholders and has
consistently raised its dividend each year since Cintas’ initial
public offering 41 years ago in 1983.
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. This
program is in addition to a current program with $0.5 billion of
Cintas common stock remaining. Thus, in total, the Company may buy
up to $1.5 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 of Directors, and purchases may be
discontinued at any time.
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.
Todd M. Schneider, Cintas’ President, and Chief Executive
Officer, stated, “Our fiscal 2024 results marked another successful
year for Cintas. We grew sales and profit again, which is now 53
out of the last 55 years. Due to our strong financial results and
financial position, we are increasing our quarterly dividend. The
dividend, accompanied by our share buyback program, continues to
demonstrate our commitment of returning capital to our
shareholders.”
Cintas
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 products and services that help
keep their customers’ facilities and employees clean, safe, and
looking their best. With offerings including uniforms, mats, mops,
towels, restroom supplies, workplace water services, first aid and
safety products, eye-wash stations, safety training, fire
extinguishers, sprinkler systems and alarm service, 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
Nasdaq-100 Index.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240723710301/en/
J. Michael Hansen, Executive Vice President, and Chief Financial
Officer - 513-972-2079 Jared S. Mattingley, Vice President -
Treasurer & Investor Relations - 513-972-4195
Cintas (NASDAQ:CTAS)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Cintas (NASDAQ:CTAS)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024