Cintas Corporation (NASDAQ:CTAS) Plans Annual Dividend of $1.62

Cintas Corporation (NASDAQ:CTAS) declared an annual dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Friday, November 10th will be given a dividend of 1.62 per share by the business services provider on Friday, December 8th. This represents a yield of 1.07%. The ex-dividend date is Thursday, November 9th. This is an increase from Cintas Corporation’s previous annual dividend of $1.33.

Cintas Corporation has increased its dividend by an average of 20.0% per year over the last three years and has increased its dividend annually for the last 34 consecutive years. Cintas Corporation has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas Corporation to earn $6.10 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 26.6%.

Cintas Corporation (NASDAQ:CTAS) opened at 151.56 on Friday. The firm has a market cap of $16.11 billion, a P/E ratio of 29.71 and a beta of 0.86. The company has a 50-day moving average price of $143.27 and a 200-day moving average price of $131.75. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $152.83.

Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. Cintas Corporation’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts forecast that Cintas Corporation will post $5.36 EPS for the current fiscal year.

In other Cintas Corporation news, CFO J. Michael Hansen sold 800 shares of Cintas Corporation stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $130.75, for a total transaction of $104,600.00. Following the completion of the transaction, the chief financial officer now owns 54,370 shares in the company, valued at approximately $7,108,877.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald S. Adolph sold 2,000 shares of Cintas Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the transaction, the director now owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is owned by company insiders.

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A number of equities analysts recently commented on the company. Deutsche Bank AG reissued a “hold” rating and set a $140.00 price target (up from $130.00) on shares of Cintas Corporation in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Thursday, August 24th. Robert W. Baird set a $152.00 price objective on Cintas Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Stifel Nicolaus upped their price objective on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub downgraded Cintas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $143.00.

Cintas Corporation Company Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

Dividend History for Cintas Corporation (NASDAQ:CTAS)

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