UniFirst Corporation (UNF) will raise its quarterly dividend by 200 percent to $0.1125 per share in the second quarter of 2018. This marks the first dividend increase by the company since 1999.

The next dividend is payable on June 29, 2018, to shareholders of record on June 8, 2018 and the new estimated dividend yield is 0.3%.

UniFirst Corporation is a North American provider of workplace uniforms and protective work wear clothing. Together with its subsidiaries, the company also provides first aid and safety products, and manages specialized garment programs for the cleanroom and nuclear industries. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products for customers throughout the United States, Canada, and Europe. The company was started in an eight-stall garage in Boston in 1936 and was organized under the laws of the Commonwealth of Massachusetts in 1950.