Cintas Corporation (NASDAQ: CTAS), a leading provider of corporate uniforms, has raised its annual dividend by 10% and changed its payout policy to a quarterly basis.
The company has stayed largely resilient to the COVID crisis so far. Recently, it reported an increase in second-quarter earnings, which also exceeded estimates, bringing cheer to shareholders.
Earnings per share increased to $2.62 from $2.27 in the second quarter of last year. Net income was $284.9 million, up 15.7% from the year-ago quarter. Revenues, meanwhile, decreased 4.7% to $1.76 billion and missed the estimates.
The company declared an annual dividend of $2.81 per share, which represents a 10.2 % rise from last year. It also changed the payout policy to a quarterly-basis from an annual payout. Analysts have upgraded their consensus estimate on the company’s earnings regularly, suggesting an improvement in sentiment around its earnings potential next year.
Read management/analysis’ comments on quarterly results
Shares of Cintas have gained about 30% in the past six months. They closed the last trading session down 2%.
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and
