UniFirst Declares Increased Cash Dividends; New $100 Million Share Repurchase Authorization

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UniFirst Corporation declares increased dividends and authorizes share repurchase program

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• UniFirst Corporation has declared increased quarterly cash dividends of $0.330 per share on the Company's Common Stock and $0.264 per share on the Company's Class B Common Stock. The dividends are payable on January 4, 2024 to shareholders of record on December 7, 2023. Additionally, the Board of Directors authorized a new share repurchase program allowing the Company to repurchase up to $100.0 million of its outstanding common shares.

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WILMINGTON, Mass., Oct. 24, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of UniFirst Corporation (NYSE:UNF) today declared increased quarterly cash dividends of $0.330 per share (33.0 cents) on the Company's Common Stock and $0.264 per share (26.4 cents) on the Company's Class B Common Stock. Both dividends are payable on January 4, 2024 to shareholders of record on December 7, 2023.

UniFirst also announced today that its Board of Directors authorized a new share repurchase program allowing the Company to repurchase up to $100.0 million of its outstanding common shares, inclusive of the amount which remained available under the existing share repurchase program approved in October 2021. Repurchases made under the new program, if any, will continue to be made in either the open market or in privately negotiated transactions, subject to market conditions, applicable legal requirements, and other relevant factors. The timing, manner, price and amount of any repurchases will depend on a variety of factors and may be suspended or discontinued at any time.

Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, facility service products, as well as first aid and safety supplies and services. Together with its subsidiaries, the Company also manages specialized garment programs for the cleanroom and nuclear industries. In addition to partnering with leading brands, UniFirst manufactures its own branded workwear, protective clothing, and floorcare products at its five company-owned ISO-9001-certified manufacturing facilities. With more than 270 service locations, over 300,000 customer locations, and 16,000-plus employee Team Partners, the Company outfits more than 2 million workers every day.  For more information, contact UniFirst at
888-296-2740 or visit UniFirst.com.

UniFirst Corporation
978-658-8888
Contact:	Shane O’Connor
	EVP and Chief Financial Officer

 

FAQ

What is the dividend amount declared by UniFirst Corporation?

UniFirst Corporation has declared a quarterly cash dividend of $0.330 per share on the Company's Common Stock and $0.264 per share on the Company's Class B Common Stock.

When will the dividends be payable?

The dividends will be payable on January 4, 2024 to shareholders of record on December 7, 2023.

What is the new share repurchase program authorized by the Board of Directors?

The Board of Directors authorized a new share repurchase program allowing UniFirst Corporation to repurchase up to $100.0 million of its outstanding common shares.

How will the repurchases be made under the new program?

Repurchases made under the new program, if any, will continue to be made in either the open market or in privately negotiated transactions, subject to market conditions, applicable legal requirements, and other relevant factors.