Cintas to raise dividend by nearly 27%, add $1 billion to stock buyback program [MarketWatch]
Cintas Corporation (CTAS)
Last cintas corporation earnings: 3/19 04:15 pm
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Source: MarketWatch
Cintas to raise dividend by nearly 27%, add $1 billion to stock buyback program Cintas Corp. CTAS, +2.19% said Tuesday it was boosting its dividend by 26.5% and adding $1 billion to its stock repurchase program. The new annual dividend of $2.05 a share is up from $1.62 a share, and will be payable Dec. 7 to shareholders of record on Nov. 9. Based on Monday's stock closing price of $171.90, the new annual dividend rate would imply a dividend yield of 1.19%, compared with the implied yield for the S&P 500 SPX, +0.38% of 2.09%, according to FactSet. With $113 million remaining under its existing share repurchase program, the company could not buy back up to 6.47 million shares at Monday's closing prices, or about 6% of the shares outstanding. Separately, the company said it expects fiscal 2019 adjusted earnings per share of $7.19 to $7.29, surrounding the FactSet consensus of $7.24, and revenue of $6.80 billion to $6.86 billion, compared with expectations of $6.84 billion. The stoc
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CTAS
Earnings
- 3/27/24 - Beat
CTAS
Sec Filings
- 4/11/24 - Form 8-K
- 4/9/24 - Form 8-K/A
- 4/5/24 - Form 10-Q
- CTAS's page on the SEC website