Dividend Aristocrat Cintas Corporation (CTAS) will raise its quarterly dividend from $0.70 to $0.75 per share in 2021. Last year the company announced a switch from annual to quarterly dividends. Cintas had announced an increase of its annual dividend by 10.2 percent to $2.81 per share in 2020. This new increase marks the 38th consecutive year of dividend increases.
The next dividend is payable on March 15, 2021 to shareholders of record as of February 15, 2021. The new annual dividend of $3.00 per share yields 0.9% at a stock price of $322.04.
At its October 27, 2020 meeting, the Cintas Board of Directors approved a change in dividend policy from an annual dividend to quarterly dividends. Any future dividend declarations, including the amount of any dividends, are at the discretion of the Board of Directors and dependent upon then-existing conditions, including the Company’s operating results and financial condition, capital requirements, contractual restrictions, business prospects and other factors that the Board of Directors may deem relevant.
Cintas has paid cash dividends on its common stock for 37 consecutive years since it went public in 1983 and increased the annual regular dividend every year. If this new dividend increase is included by dividendhike.com Cintas will now pay an estimated $315 million in dividends to shareholders annually.
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. The company started paying a quarterly dividend in 2020.