Cintas Corporation Announces 9% Increase in Annual Dividend
January 24 2006 - 4:15PM
Business Wire
Cintas Corporation (Nasdaq:CTAS) announced today that its Board of
Directors has approved a 9 percent increase in the Company's annual
dividend to 35 cents per share from 32 cents per share. The
dividend is payable on March 14, 2006, to shareholders of record as
of February 7, 2006. Richard T. Farmer, Chairman and Founder of
Cintas said, "Our principal objective is to maximize the long-term
value of Cintas for our shareholders and working partners by
exceeding our customers' expectations. Since going public in 1983,
Cintas has paid a dividend each year. Dividends have increased at a
compound annual rate of 21 percent over that timeframe. Our track
record of consistent growth in sales, profits, and dividends shows
our commitment to increasing shareholder value." The Company has
long been recognized as a leader in enhancing shareholder value,
honored regularly as a "Dividend Achiever" by Mergent Inc. The list
of Mergent Dividend Achievers represents just 3 percent of more
than 10,000 North American-listed dividend-paying common stocks. To
qualify for this list, companies must have ten or more consecutive
years of dividend growth. Cintas' dividends grew at a 10-year
compound annual growth rate of 16.4 percent versus 12.1 percent for
the Dividend Achievers. In 2005, Fortune Magazine also recognized
Cintas as "America's Most Admired Company" in the diversified
outsourcing sector, which marked the fifth consecutive year that
Fortune recognized Cintas in their prestigious list. ABOUT CINTAS
Headquartered in Cincinnati, Ohio, Cintas Corporation provides
highly specialized services to businesses of all types throughout
North America. Cintas designs, manufactures and implements
corporate identity uniform programs, provides entrance mats,
restroom supplies, promotional products, first aid and safety
products, fire protection services and document management services
for approximately 700,000 businesses. Cintas is a publicly held
company traded over the Nasdaq National Market under the symbol
CTAS, and is a Nasdaq-100 company and component of the Standard
& Poor's 500 Index. The Company has achieved 36 consecutive
years of growth in sales and earnings, to date. 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", "projects",
"plans", "expects", "intends", "believes", "seeks", "could",
"should", "may" and "will" or the negative versions thereof and
similar expressions and by the context in which they are used. Such
statements are based upon current expectations of the Company and
speak only as of the date made. These statements are subject to
various risks, uncertainties and other factors that could cause
actual results to differ from those set forth in or implied by this
news release. Factors that might cause such a difference include,
but are not limited to, the possibility of greater than anticipated
operating costs including fuel costs, lower sales volumes, the
performance and costs of integration of acquisitions, fluctuations
in costs of materials and labor including increased medical costs,
costs and possible effects of union organizing activities,
uncertainties regarding any existing or newly-discovered expenses
and liabilities related to environmental compliance and
remediation, the cost, results and ongoing assessment of internal
controls for financial reporting required by the Sarbanes-Oxley Act
of 2002, the initiation or outcome of litigation, higher assumed
sourcing or distribution costs of products, the disruption of
operations from catastrophic events, changes in federal and state
tax laws and the reactions of competitors in terms of price and
service. Cintas undertakes no obligation to update any
forward-looking statements to reflect the events or circumstances
arising after the date on which they are made.
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