Cintas Corporation Announces 10% Increase in Annual Dividend
CINCINNATI, OH, January 28, 2005 – Cintas Corporation (Nasdaq: CTAS) announced today that its Board of Directors has approved a 10 percent increase in the Company's annual dividend to 32 cents per share from 29 cents per share. The dividend is payable on March 15, 2005, to shareholders of record as of February 8, 2005.
"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 27 percent. Our track record of increasing sales, profits, and dividends shows our commitment to maximizing the long-term value of Cintas for our shareholders and working partners by exceeding our customers' expectations."
The company has long 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 included Cintas in the Forbes Platinum 400, the Best Big Companies in America. Forbes' "A-list" of the 26 best managed companies, a subset of the Platinum 400, named Cintas as the best managed company in the Business Services industry. Fortune Magazine also recognized Cintas as "America's Most Admired Company" in the diversified outsourcing sector.
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 35 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.