Cintas Shares $22.2 Million With Employee-Partners
In 2004 $135 Million Contributed to Company's Retirement Plan Over Past Decade
CINCINNATI, OH, September 17, 2004 – The Board of Directors of Cintas Corporation (Nasdaq: CTAS) recently approved a contribution of $22.2 million to the company's retirement plan, an increase of 10.2% over 2003.
The contribution will be awarded in the form of profit sharing, 401 (k) matched contributions and stock to employees as the company celebrates its 35th consecutive year of growth in sales and earnings. This raises the company's total contribution to the retirement plan over the past decade to $135 million.
"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 our partners' futures.”
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 and first aid and safety products for over 550,000 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 & Poors 500 Index. The Company has achieved 35 consecutive years of growth in sales and earnings, to date.