Cintas Board of Directors Approves 4-For-1 Stock Split, Expected To Begin Trading On A Post-split Basis At The Market Open On Thursday, September 12, 2024
Portfolio Pulse from Benzinga Newsdesk
Cintas Corporation (NASDAQ:CTAS) announced a 4-for-1 stock split, effective September 12, 2024, aimed at increasing stock accessibility for investors and employee-partners. Shareholders on record as of September 4, 2024, will receive three additional shares for each share held, with the distribution occurring after market close on September 11, 2024. This move is expected to increase the outstanding common stock from about 101 million shares to approximately 404 million shares. The decision reflects Cintas' strong performance and desire to make share ownership more attainable.
May 02, 2024 | 9:28 pm
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Cintas Corporation's 4-for-1 stock split aims to make its shares more accessible, reflecting strong performance and a commitment to shareholder inclusivity.
Stock splits often lead to increased stock accessibility due to the lower price per share, potentially attracting more investors and boosting liquidity. Given Cintas' strong performance and the historical context of its last split in 2000, this move is likely to be viewed positively by the market. The increase in outstanding shares to approximately 404 million also indicates a significant change in the stock's structure, which could further enhance its appeal to a broader investor base, including employee-partners.
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