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
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
