Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity,
Related Stockholder Matters and Issuer Purchases of Equity Securities
Market and Shareholder Information
Cintas' common stock is traded on the NASDAQ Global Select Market under the symbol "CTAS." At May 31, 2025, there were approximately 1,200 shareholders of record of Cintas' common stock. Cintas believes that this represents approximately 1.1 million beneficial owners.
On May 2, 2024, the Company announced a four-for-one split of its common stock (the Stock Split), in the form of a stock dividend. Shareholders of record, as of September 4, 2024, received three additional common stock shares for each common stock share held, which were distributed after market close on September 11, 2024. The Company's common stock shares began trading on a post Stock Split basis after the market opening on September 12, 2024. All references made to common stock shares, equity awards, common stock per share amounts and treasury stock shares in the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect the effects of the Stock Split.
Dividends
Our Board of Directors declared the following dividends during the fiscal years ended May 31:
Declaration Date
(In millions except per share data)
Record
Date Payment
Date Dividend
Per Share Amount
2025
July 23, 2024 August 15, 2024 September 3, 2024 $ 0.39 $ 158.0
October 29, 2024 November 15, 2024 December 13, 2024 0.39 158.1
January 14, 2025 February 14, 2025 March 14, 2025 0.39 157.9
April 8, 2025 (1)
May 15, 2025 June 13, 2025 0.39 157.8
Total $ 1.56 $ 631.8
2024
July 25, 2023 August 15, 2023 September 15, 2023 $ 0.3375 $ 138.2
October 24, 2023 November 15, 2023 December 15, 2023 0.3375 137.5
January 16, 2024 February 15, 2024 March 15, 2024 0.3375 137.6
April 9, 2024 (1)
May 15, 2024 June 14, 2024 0.3375 137.6
Total $ 1.3500 $ 550.9
(1) The dividends declared on April 8, 2025 and April 9, 2024, were included in current accrued liabilities on the consolidated balance sheets at May 31, 2025 and 2024, respectively.
Stock Performance Graph
The following graph summarizes the cumulative return on $100 invested in Cintas' common stock, the S&P 500 Stock Index and the common stocks of a selected peer group of companies. Because our products and services are diverse, Cintas does not believe that any single published industry index is appropriate for comparing shareholder return. Therefore, the peer group used in the performance graph combines publicly traded companies in the business services industry that have similar characteristics as Cintas for each fiscal year, such as route-based delivery of products and services. The companies included in the peer group are ABM Industries, Inc., Aramark, Rollins, Inc. and UniFirst Corporation.
Total shareholder return was based on the increase in the price of the common stock and assumed reinvestment of all dividends. Furthermore, total return was weighted according to market capitalization of each company. The companies in the peer group are not necessarily the same as those considered by the Compensation Committee of the Board.
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Total Shareholder Returns
Comparison of Five-Year Cumulative Total Return
Purchases of Equity Securities by the Issuer and Affiliated Purchases
Period
(In millions, except share and per share data)
Total number
of shares
purchased Average
price paid
per share Total number
of shares
purchased as part
of the publicly
announced
plan (1)
Maximum
approximate dollar
value of shares that
may yet be
purchased under
the plan (1)
March 1 - 31, 2025 (2)
85,454 $ 202.80 — $ 1,469.3
April 1 - 30, 2025 (3)
1,150,573 $ 194.50 1,062,208 $ 1,263.6
May 1 - 31, 2025 (4)
71,376 $ 217.88 — $ 1,263.6
Total 1,307,403 $ 196.32 1,062,208 $ 1,263.6
(1) On July 26, 2022, we announced that the Board authorized a $1.0 billion share buyback program, which does not have an expiration date. From the inception of the July 26, 2022 share buyback program through May 31, 2025, Cintas purchased a total of 4.1 million shares of Cintas common stock at an average price of $178.20 per share for a total purchase price of $736.4 million. On July 23, 2024, Cintas announced that the Board authorized a new $1.0 billion share buyback program, which does not have an expiration date. Cintas has made no purchases under the July 23, 2024 share buyback program.
(2) During March 2025, Cintas acquired 85,454 shares of Cintas common stock in satisfaction of employee-partner payroll taxes due on options exercised and restricted stock awards that vested during the fiscal year. These shares were purchased at an average price of $202.80 per share for a total purchase price of $17.3 million.
(3) During April 2025, Cintas acquired 88,365 shares of Cintas common stock in satisfaction of employee-partner payroll taxes due on options exercised and restricted stock awards that vested during the fiscal year. These shares were purchased at an average price of $204.57 per share for a total purchase price of $18.1 million.
(4) During May 2025, Cintas acquired 71,376 shares of Cintas common stock in satisfaction of employee-partner payroll taxes due on options exercised and restricted stock awards that vested during the fiscal year. These shares were purchased at an average price of $217.88 per share for a total purchase price of $15.6 million.
Item 6. [Reserved]
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