Cintas Corporation (CTAS) will raise its annual dividend by 26.5 percent to $2.05 per share in 2018.

This marks the 35th consecutive year of annual dividend increases by the provider of corporate uniforms.

The next dividend is payable on December 7, 2018 to shareholders of record as of November 9, 2018.

A new annual dividend payment of $2.05 per share yields 1.2% at a stock price of $177.11.

Cintas also announced that the Board of Directors approved an additional share repurchase program under which the Company may repurchase up to $1.0 billion of Cintas common stock at market prices. The number of shares to be repurchased and the timing of the purchases will be determined at the discretion of the Board, and repurchases may be discontinued at any time.

Dividend Aristocrat Cintas has increased its dividend every year since the company went public in 1983. In 2017 the company completed the acquisition of G&K Services for $2.2 billion.

Cintas Corporation is a supplier of corporate identity uniform programs, entrance and logo mats, restroom supplies, promotional products, first aid, safety, fire protection products and services, and industrial carpet and tile cleaning. The company’s products and services include uniforms, floor care, restroom supplies, first aid and safety products, fire extinguishers and testing, and safety compliance training. Cintas has paid a dividend every year since the Company went public in 1983.