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Cintas Corporation Announces 11.4% Increase in Annual Dividend
CINCINNATI, January 16, 2007 -
Cintas Corporation (Nasdaq: CTAS) announced today
that its Board of Directors has approved an 11.4
percent increase in the Company's annual dividend to 39 cents per share from 35 cents per share. The dividend is payable on March 13, 2007, to shareholders of record as of February 6, 2007.
Richard T. Farmer, Chairman and Founder of Cintas
said, "Our principal objective is to maximize
the long-term value of Cintas for our shareholders
and working partners by exceeding our customers' expectations.
Since going public in 1983, Cintas has paid a
dividend each year. Dividends have increased
at a compound annual rate of 21 percent over
that timeframe. Our track record of consistent
growth in sales, profits, and dividends demonstrates
our continued commitment to increasing shareholder
value."
The Company has long been recognized as
a leader in enhancing shareholder value, honored
regularly as a "Dividend Achiever" by Mergent
Inc. To qualify for this list, companies must
have ten or more consecutive years of dividend
growth. In 2006, Fortune Magazine also recognized
Cintas as "America's Most Admired Company" in
the diversified outsourcing sector, which marked
the sixth consecutive year that Fortune recognized
Cintas in their prestigious list.
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, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services for approximately 700,000 businesses. Cintas is a publicly held company traded over the Nasdaq Global Select Market under the symbol CTAS, and is a Nasdaq-100 company and component of the Standard & Poor's 500 Index. The Company has achieved 37 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,” “seeks,” “could,” “should,” “may” and “will” or
the negative versions thereof 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. These
statements are subject to various risks, uncertainties
and other factors that could cause actual results
to differ from those set forth in or implied
by this news release. Factors that might
cause such a difference include, but are not
limited to, the possibility of greater than
anticipated operating costs including energy
costs, lower sales volumes, the performance
and costs of integration of acquisitions, fluctuations
in costs of materials and labor including increased
medical costs, costs and possible effects of
union organizing activities, uncertainties
regarding any existing or newly-discovered
expenses and liabilities related to environmental
compliance and remediation, the cost, results
and ongoing assessment of internal controls
for financial reporting required by the Sarbanes-Oxley
Act of 2002, the initiation or outcome of litigation,
higher assumed sourcing or distribution costs
of products, the disruption of operations from
catastrophic events, changes in federal and
state tax laws and the reactions of competitors
in terms of price and service. Cintas
undertakes no obligation to update any forward-looking
statements to reflect events or circumstances
arising after the date on which they are made.
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