Cintas Shares $26.5 Million With Employee-Partners In 2006
$175 Million Contributed to Company’s Retirement Plan Over Past Decade
CINCINNATI, OH, August 8, 2006 - The Board of Directors of Cintas Corporation (Nasdaq: CTAS) recently approved a contribution of $26.5 million to the company's employee-partners’ retirement plan - an increase of approximately 8.5% over 2005. This raises the company's total contribution to the retirement plan over the past decade to $175 million.
The contribution will be awarded in the form of profit sharing, 401(k) matched contributions and stock to employees as the company celebrates its 37th consecutive year of growth in sales and earnings.
"Our employee-partners deserve all the credit for the company's growth record,” said Scott Farmer, Cintas President and CEO. “That is why we named our retirement plan, 'The Partners' Plan.' The plan demonstrates our company's appreciation and commitment to the futures of our partners and their families.”
Employees at every level are eligible to participate in the Cintas Partners' Plan, which includes profit sharing, matching 401(k) contributions, and an employee stock ownership program. In addition to the retirement plan, Cintas provides medical, dental, vision, life, and disability insurance.
Headquartered in Cincinnati, Cintas Corporation provides highly specialized services to businesses of all types throughout North America. 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 700,000 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 37 consecutive years of growth in sales and earnings, to date.