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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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