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Cintas Shares $20.1 Million With Employee-Partners In 2003
Partners' Benefit Plan Reflects Company's Strong Culture
CINCINNATI, July 31, 2003 - The Board of Directors
of Cintas Corporation (Nasdaq CTAS) today approved
a contribution of $20.1 million to the company's
retirement plan. The contribution will be awarded
in the form of profit sharing, 401 (k) matched contributions,
and stock to employees as the company celebrates
its 34th consecutive year of growth in sales and
profits. This raises the company's total contribution
to the retirement plan over the past decade to $110
million.
"We have a unique
culture that brings
out the best in people," said
Scott Farmer, Cintas
CEO. "Our partners
deserve all the credit
for the company's growth
record, and that is
why we named our retirement
plan, 'The Partners'
Plan.' The plan demonstrates
the company's appreciation
and commitment to our
partners' futures," said
Farmer.
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
also offers its employees
medical, dental, vision,
life, and disability
insurance.
For additional information,contact:
William C. Gale
Vice President-Finance and CFO
(513) 573-4211
Karen L. Carnahan
Vice President and Treasurer
About Cintas
Cintas Corporation provides highly specialized services to businesses of all types throughout North America. The company designs, manufactures, and implements corporate identity uniform programs, provides entrance mats, restroom supplies, promotional products, and first aid and safety products to over 500,000 businesses. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS, and is a Nasdaq100 company and component of the Standard & Poor's 500 Index. The company, which has achieved 34 consecutive years of growth in sales and earnings, to date, was named one of the top outsourcing services providers in Fortune Magazine's 2003 "America's Most Admired Companies" survey.
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