UniFirst Declares Increased Cash Dividends

Rhea-AI Summary

UniFirst Corporation (NYSE: UNF) has announced an increase in its quarterly cash dividends, declaring $0.310 per share on Common Stock and $0.248 per share on Class B Common Stock. Both dividends will be payable on January 4, 2023, to shareholders of record by December 7, 2022. As a leader in uniform and workwear services across North America, UniFirst also provides facility services, first aid products, and specialized garment programs, serving over 2 million workers daily from its 260 service locations and 300,000 customer sites.

Positive

• Increased quarterly cash dividends demonstrate company confidence in financial stability.
• Quarterly dividend of $0.310 for Common Stock is an attractive return for shareholders.

Negative

• None.

WILMINGTON, Mass., Oct. 25, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of UniFirst Corporation (NYSE:UNF) today declared increased quarterly cash dividends of $0.310 per share (31.0 cents) on the Company's Common Stock and $0.248 per share (24.8 cents) on the Company's Class B Common Stock. Both dividends are payable on January 4, 2023 to shareholders of record on December 7, 2022.

Headquartered in Wilmington, Mass., UniFirst Corporation (NYSE: UNF) is a North American leader in the supply and servicing of uniform and workwear programs, as well as the delivery of facility service programs. Together with its subsidiaries, the company also provides first aid and safety products, and manages specialized garment programs for the cleanroom and nuclear industries. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products, and with 260 service locations, over 300,000 customer locations, and 14,000 plus employee Team Partners, the company outfits over 2 million workers each business day.  For more information, contact UniFirst at 800-455-7654 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 for Q4 2022?

UniFirst Corporation declared a dividend of $0.310 per share on Common Stock and $0.248 per share on Class B Common Stock.

When will the dividends be paid to shareholders?

The dividends will be paid on January 4, 2023, to shareholders of record on December 7, 2022.

How often does UniFirst Corporation pay dividends?

UniFirst Corporation pays quarterly dividends.

Is the dividend declared by UniFirst Corporation sustainable?

While the increase in dividends suggests financial health, sustainability should be evaluated based on future earnings and cash flow.