Vestis Announces Quarterly Cash Dividend
May 23 2024 - 7:30AM
Business Wire
Vestis (NYSE: VSTS) today announced that its Board of Directors
has approved a quarterly cash dividend of $0.035 per share of
common stock. The dividend is payable to shareholders of record at
the close of business on June 14, 2024, and is expected to be paid
on July 2, 2024. The amount and timing of any future dividend
payment is subject to the approval of the Company's Board of
Directors.
About Vestis™
Vestis is a leader in the B2B uniform and workplace supplies
category. Vestis provides uniform services and workplace supplies
to a broad range of North American customers from Fortune 500
companies to locally owned small businesses across a broad set of
end sectors. The Company’s comprehensive service offering primarily
includes a full-service uniform rental program, floor mats, towels,
linens, managed restroom services, first aid supplies, and
cleanroom and other specialty garment processing.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the securities laws. All statements that reflect our
expectations, assumptions, or projections about the future, other
than statements of historical fact, are forward-looking statements,
including, without limitation, forecasts relating to discussions of
future operations and financial performance and statements
regarding our strategy for growth, future product development,
regulatory approvals, competitive position, and expenditures. In
some cases, forward-looking statements can be identified by words
such as “outlook,” “aim,” “anticipate,” “are or remain or continue
to be confident,” “have confidence,” “estimate,” “expect,” “will
be,” “will continue,” “will likely result,” “project,” “intend,”
“plan,” “believe,” “see,” “look to” and other words and terms of
similar meaning or the negative versions of such words. These
forward-looking statements are subject to risks and uncertainties
that may change at any time, and actual results or outcomes may
differ materially from those that we expected. Forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties, and changes in circumstances that are
difficult to predict including, but not limited to: unfavorable
economic conditions; increases in fuel and energy costs; the
failure to retain current customers, renew existing customer
contracts and obtain new customer contracts; natural disasters,
global calamities, climate change, pandemics, strikes and other
adverse incidents; increased operating costs and obstacles to cost
recovery due to the pricing and cancellation terms of our support
services contracts; a determination by our customers to reduce
their outsourcing or use of preferred vendors; risks associated
with suppliers from whom our products are sourced; challenge of
contracts by our customers; our expansion strategy and our ability
to successfully integrate the businesses we acquire and costs and
timing related thereto; currency risks and other risks associated
with international operations; our inability to hire and retain key
or sufficient qualified personnel or increases in labor costs;
continued or further unionization of our workforce; liability
resulting from our participation in multiemployer-defined benefit
pension plans; liability associated with noncompliance with
applicable law or other governmental regulations; laws and
governmental regulations including those relating to the
environment, wage and hour and government contracting; increases or
changes in income tax rates or tax-related laws; new
interpretations of or changes in the enforcement of the government
regulatory framework; a cybersecurity incident or other disruptions
in the availability of our computer systems or privacy breaches;
stakeholder expectations relating to environmental, social and
governance considerations; the expected benefits of the separation
from Aramark and the risk that conditions to the separation will
not be satisfied; the risk of increased costs from lost synergies;
retention of existing management team members as a result of the
separation from Aramark; reaction of customers, employees and other
parties to the separation from Aramark, and the impact of the
separation on our business; our leverage and ability to meet debt
obligations; any failure by Aramark to perform its obligations
under the various separation agreements entered into in connection
with the separation and distribution; a determination by the IRS
that the distribution or certain related transactions are taxable;
and the and the timing and occurrence (or non-occurrence) of other
transactions, events and circumstances which may be beyond our
control. The above list of factors is not exhaustive or necessarily
in order of importance. For additional information on identifying
factors that may cause actual results to vary materially from those
stated in forward-looking statements, see Vestis’ filings with the
Securities and Exchange Commission. Any forward-looking statement
speaks only as of the date on which it is made, and we assume no
obligation to update or revise such statement, whether as a result
of new information, future events or otherwise, except as required
by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240523568588/en/
Investors Michael Aurelio, CFA 470-653-5015
michael.aurelio@vestis.com Media Danielle Holcomb
470-716-0917 danielle.holcomb@vestis.com
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