Cintas Corporation Announces 18% Increase in Annual Dividend
January 16 2008 - 8:40AM
Business Wire
Cintas Corporation (Nasdaq: CTAS) announced today that its Board of
Directors approved an 18 percent increase in the Company�s annual
dividend to 46 cents per share from 39 cents per share. The
dividend was approved at the Company�s Board of Directors meeting
held yesterday, January 15, 2008. The dividend is payable on March
12, 2008, to shareholders of record as of February 6, 2008. Richard
T. Farmer, Chairman and Founder of Cintas said, �We are pleased to
announce this annual dividend for our shareholders. Since going
public in 1983, Cintas has paid a dividend each year and dividends
have increased at a compound annual rate of over 20 percent over
that timeframe. We understand and appreciate the investment our
shareholders have made in Cintas. Our increasing dividend, along
with our consistent growth in sales and profits, demonstrates our
continued 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.
To qualify for this list, companies must have ten or more
consecutive years of dividend growth. The Company has also achieved
38 consecutive tears of growth in sales and earnings, to date.
About Cintas Headquartered in Cincinnati, Cintas Corporation
provides highly specialized services to businesses of all types
predominantly in the United States and Canada. Cintas designs,
manufactures and implements corporate identity uniform programs,
and provides entrance mats, restroom supplies, promotional
products, first aid and safety products, fire protection services
and document management services for approximately 800,000
businesses. Cintas is a publicly held company traded over the
Nasdaq Global Select Market under the symbol CTAS, and is a
Nasdaq-100 company and component of the Standard & Poor�s 500
Index. The Company has achieved 38 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�, �predicts�, �projects�,
�plans�, �expects�, �intends�, �target�, �forecast�, �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 Cintas and speak only as of the date made. We
cannot guarantee that any forward-looking statement will be
realized. 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 energy costs, lower sales volumes, loss of
customers due to outsourcing trends, 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, failure to comply with government
regulations concerning employment discrimination, employee pay and
benefits and employee health and safety, 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 whether as a
result of new information or to reflect events or circumstances
arising after the date on which they are made. You are advised,
however, to consult any further disclosures we make on related
subjects in our Form 10-Q, 8K and 10-K reports to the SEC.
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