Cintas Board of Directors Approves 4-For-1 Stock Split

Rhea-AI Summary

Cintas (Nasdaq: CTAS) announced a four-for-one split of its common stock, increasing accessibility to investors, including employee-partners. Shareholders will receive three additional shares for each share held, distributed after market close on September 11, 2024, with trading on a post-split basis starting on September 12, 2024. The stock split aims to allow employees a collective share in the company's success and future growth.

Positive

• Stock split to increase accessibility to all investors, including Cintas employee-partners.

• Cintas founder's belief in employee ownership and sharing in collective success.

• Shares trading near record highs due to focus on customer service.

Negative

• None.

Stock split to increase accessibility to all investors, including Cintas employee-partners.

CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS), a leading provider of business-to-business services, today announced that its Board of Directors approved a four-for-one split of its common stock. Shareholders of record, as of September 4, 2024, will receive three additional shares for each share held, which will be distributed after market close on September 11, 2024. Cintas’ shares are expected to begin trading on a post-split basis at the market open on Thursday, September 12, 2024. Prior to this announcement, Cintas’ most recent stock split was in 2000.

“At Cintas, we call our employees ‘partners’ in recognition of the value that each individual contributes to our success as a company. Our founder, Dick Farmer, also believed the importance of each employee-partner having ownership in the company to share collectively in that success,” said Todd Schneider, Cintas' President and Chief Executive Officer. “Cintas shares are trading near record highs as a result of our steadfast focus on serving our customers. We believe that the time is right to split the stock and increase its accessibility to our employee-partners and investors so that they can continue to share in the future growth of Cintas.”

The company expects that the stock split will increase the number of shares of Cintas’s outstanding common stock from approximately 101 million shares to approximately 404 million shares.

About 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, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety 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 Nasdaq-100 Index.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240502956393/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

Source: Cintas Corporation

FAQ

When will the stock split occur for Cintas (CTAS)?

The stock split for Cintas (CTAS) will occur after market close on September 11, 2024.

How many additional shares will shareholders receive in the stock split?

Shareholders will receive three additional shares for each share held in the stock split.

What is the purpose of the stock split at Cintas?

The stock split aims to increase accessibility to investors, including Cintas employee-partners, and allow them to share in the future growth of the company.