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Cintas Corporation Announces 7% Increase in Annual Dividend


Cincinnati -- Cintas Corporation (Nasdaq:CTAS) announced today that its Board of Directors has approved a 7 percent increase in the Company's annual dividend to 29 cents per share from 27 cents per share. The dividend is payable on March 16, 2004, to shareholders of record as of February 10, 2004.

"We are proud to continue our uninterrupted record of increasing dividends," said Richard T. Farmer, Chairman and Founder of Cintas. "Since going public in 1983, dividends have increased at a compound annual rate of 28 percent. That, combined with healthy growth in sales and profits, indicates we are increasing shareholder value."

The company long has been recognized as a leader in enhancing shareholder value, honored regularly as a "Dividend Achiever" by Mergent FIS (formerly Moody's). In addition, Forbes Magazine recently listed Cintas among "America's Best Managed Companies" and Fortune Magazine lists Cintas as a top outsourcing services provider in their survey of "America's Most Admired Companies".

"We are committed to our principal objective, which is to maximize the long-term value of Cintas for our shareholders and working partners by exceeding customers' expectations," Farmer said. "As our fiscal year passes the mid-way point, we are pleased to reiterate that we are on track to deliver our 35th year of uninterrupted growth in sales and profits."

For additional information, contact:
William C. Gale
Senior Vice President Finance and CFO
513/573 4211

Karen L. Carnahan
Vice President and Treasurer
513/573 4013



About Cintas
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, provides entrance mats, restroom supplies, promotional products and first aid and safety products and services for more than 500,000 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 34 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, should 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. This news release contains forward-looking statements that reflect the Company's current views as to future events and financial performance with respect to its operations. These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ from those set forth in this news release. Factors that might cause such a difference include the possibility of greater than anticipated operating costs, lower sales volumes, the performance and costs of integration of acquisitions, fluctuations in costs of materials and labor, costs and possible effects of union organizing activities, the outcome of pending environmental matters, the initiation or outcome of litigation, higher assumed sourcing or distribution costs of products 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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