CTAS - This Dividend Growth Machine Just Announced Another 20% Dividend Hike
2023-07-28 05:13:00 ET
At one point in its history, Cintas (NASDAQ: CTAS) adopted the slogan "The Uniform People." It has since branched out beyond uniforms and now uses the line "Ready for the Workday." Both of those advertising efforts convey what the company does for customers, but they probably don't elicit any excitement from an investor's point of view. Which is too bad, because this boring company is a dividend growth machine. Here's what you need to know.
Cintas has two main divisions. Its uniform and facility services (think things like door mats) operation brought in revenue of nearly $6.9 billion in fiscal 2023. Meanwhile, the first aid and safety services division produced revenue that was a little shy of $1 billion. These are sizable numbers, and support a company with a market cap of $52 billion.
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This Dividend Growth Machine Just Announced Another 20% Dividend Hike