Cintas Corporation (CTAS) will raise its annual dividend by 24.4 percent to $2.55 per share in 2019. This marks the 36th consecutive year of dividend increases by the Dividend Aristocrat.

The new dividend is payable on December 6, 2019 to shareholders of record as of November 8, 2019. The annual dividend of $2.55 per share yields 0.9% at a stock price of $276.

Scott D. Farmer, Cintas’ Chairman and Chief Executive Officer, stated, “We achieved record revenue and net income in our fiscal 2019, and this fiscal year is off to a good start. Given our excellent financial results and strong financial position, we are pleased to announce an increase in the annual dividend. The dividend, accompanied by our share buyback program, continues to demonstrate our commitment to increasing shareholder value.”

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.