Cintas Corporation Announces Quarterly Cash Dividend

Rhea-AI Summary

Cintas Corporation (NASDAQ: CTAS) has declared a quarterly cash dividend of $1.15 per share, payable on March 15, 2023, to shareholders of record as of February 15, 2023. This marks the continuation of Cintas' strong history of increasing dividends annually since its IPO in 1983, underscoring the company's commitment to returning capital to shareholders. Future dividends will depend on various factors, including the company's financial condition and operating results.

Positive

• Consistent annual dividend increases since 1983.
• Recent dividend of $1.15 reflects strong shareholder returns.

Negative

• Future dividends are not guaranteed and depend on various risk factors.
• Ongoing economic uncertainties may impact operating results.

CINCINNATI--(BUSINESS WIRE)-- Cintas Corporation (Nasdaq: CTAS) announced that the Company’s Board of Directors approved a quarterly cash dividend of $1.15 per share of common stock payable on March 15, 2023, to shareholders of record at the close of business on February 15, 2023. Cintas has a strong record of returning capital to its shareholders and has consistently raised its dividend each year since Cintas’ initial public offering 40 years ago in 1983.

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.

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.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements. Forward-looking statements may be identified by words such as “estimates,” “anticipates,” “predicts,” “projects,” “plans,” “expects,” “intends,” “target,” “forecast,” “believes,” “seeks,” “could,” “should,” “may” and “will” or the negative versions thereof and similar words, terms, and expressions and by the context in which they are used. Such statements are based upon current expectations of Cintas and speak only as of the date made. You should not place undue reliance on any forward-looking statement. We cannot guarantee that any forward-looking statement will be realized. These statements are subject to various risks, uncertainties, potentially inaccurate assumptions, and other factors that could cause actual results to differ from those set forth in or implied by this Quarterly Report. Factors that might cause such a difference include, but are not limited to, the possibility of greater than anticipated operating costs including energy and fuel costs; lower sales volumes; loss of customers due to outsourcing trends; the performance and costs of integration of acquisitions; inflationary pressures and fluctuations in costs of materials and labor, including increased medical costs; interest rate volatility; costs and possible effects of union organizing activities; failure to comply with government regulations concerning employment discrimination, employee pay and benefits and employee health and safety; the effect on operations of exchange rate fluctuations, tariffs and other political, economic and regulatory risks; uncertainties regarding any existing or newly-discovered expenses and liabilities related to environmental compliance and remediation; our ability to meet our goals relating to environmental, social and governance (ESG) opportunities, improvements and efficiencies; the cost, results and ongoing assessment of internal controls for financial reporting; the effect of new accounting pronouncements; disruptions caused by the inaccessibility of computer systems data, including cybersecurity risks; the initiation or outcome of litigation, investigations or other proceedings; higher assumed sourcing or distribution costs of products; the disruption of operations from catastrophic or extraordinary events including global health pandemics such as the COVID-19 coronavirus; the amount and timing of repurchases of our common stock, if any; changes in federal and state tax and labor laws; and the reactions of competitors in terms of price and service. Cintas undertakes no obligation to publicly release any revisions to any forward-looking statements or to otherwise update any forward- looking statements whether as a result of new information or to reflect events, circumstances or any other unanticipated developments arising after the date on which such statements are made. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the year ended May 31, 2022, and in our reports on Forms 10-Q and 8-K. The risks and uncertainties described herein are not the only ones we may face. Additional risks and uncertainties presently not known to us, or that we currently believe to be immaterial, may also harm our business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005793/en/

J. Michael Hansen, Executive Vice President, and Chief Financial Officer - 513-972-2079

Paul F. Adler, Vice President - Treasurer & Investor Relations - 513-972-4195

Source: Cintas Corporation

FAQ

What is the dividend amount declared by Cintas Corporation for March 2023?

Cintas Corporation declared a dividend of $1.15 per share for March 2023.

When will the dividend be paid to shareholders?

The dividend will be paid on March 15, 2023, to shareholders of record on February 15, 2023.

How long has Cintas Corporation been increasing its dividends?

Cintas has consistently raised its dividend each year since its IPO in 1983.

What factors could affect future dividend declarations by Cintas Corporation?

Future dividend declarations depend on the company's operating results, financial condition, and other relevant factors.

What is Cintas Corporation's stock symbol?

Cintas Corporation is traded under the stock symbol CTAS.