UniFirst Corporation (NYSE:UNF) Announces $0.36 Quarterly Dividend

UniFirst Corporation (NYSE:UNF) declared a quarterly dividend on Monday, July 13th. Investors of record on Friday, September 4th will be given a dividend of 0.365 per share by the textile maker on Friday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th.

UniFirst has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 7 years. UniFirst has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect UniFirst to earn $8.13 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 18.0%.

UniFirst Stock Up 0.6%

Shares of NYSE:UNF opened at $273.29 on Tuesday. UniFirst has a 12 month low of $147.66 and a 12 month high of $283.77. The firm has a market cap of $4.94 billion, a P/E ratio of 43.11 and a beta of 0.63. The company’s 50-day moving average price is $264.77 and its two-hundred day moving average price is $245.28.

UniFirst (NYSE:UNF) last announced its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The company had revenue of $634.40 million for the quarter, compared to analyst estimates of $627.66 million. UniFirst had a return on equity of 6.44% and a net margin of 4.65%.UniFirst’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 earnings per share. As a group, equities analysts predict that UniFirst will post 7.49 earnings per share for the current fiscal year.

About UniFirst

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).