Unifirst hikes dividend by 3.3%

On October 25, 2022, UniFirst Corporation (UNF) announced that it will raise its quarterly dividend by 3.3 percent to 31 cents per share. This is the second dividend hike since 2019, when UNF raised the dividend by 122.2 percent to $0.25 per share. The workplace uniforms maker, a Cintas peer, has now raised the dividend 5 years in a row based on annual dividends paid per calendar year.

The next UNF dividend of $0.31 per share is payable on January 4, 2023, to shareholders of record on December 7, 2022. A new annual rate of $1.24 per share yields 0.7% at a stock price of $182. The annual dividend payment for UNF is approximately $23 million.

UniFirst Corporation is a North American provider of workplace uniforms and protective work wear clothing. Together with its subsidiaries, the company also provides first aid and safety products, and manages specialized garment programs for the cleanroom and nuclear industries. UniFirst manufactures its own branded workwear, protective clothing, and floorcare products for customers throughout the United States, Canada, and Europe. The company was started in an eight-stall garage in Boston in 1936 and was organized under the laws of the Commonwealth of Massachusetts in 1950.