Cintas Corporation (CTAS) has made an offer to buy smaller competitor G&K Services (GK) for $2.2 billion. Both providers of workplace uniforms and corporate apparel are known for their long history of increasing annual dividends.

Dividend Aristocrat Cintas (market cap $11.5 billion) has offered $97.50 a share for G&K, which represents a premium of 19 percent to the closing price per share of G&K Service's common stock on August 15, 2106. 

G&K Services has been raising its dividend for 10 consecutive years with double digit dividend hikes over the last six years. 

Last year G&K raised its quarterly dividend by 19.4%. The stock is up 55% this year based on the $97.50 per share bid by Cintas.