Below is a list of companies in Canada and the United States that have increased their dividends in the month of July.
The companies we list are not the complete list of companies that have increased their dividends in Canada and the United States or the rest of the world however, they are companies we follow or own.
Canadian Companies
| Company | Previous ($) | New ($) | Change (%) |
| Emera | 0.6625 | 0.6630 | 0.08 |
US Companies
| Company | Previous ($) | New ($) | Change (%) |
| Bank of America | 0.21 | 0.22 | 4.76 |
| Cintas | 0.95 | 1.15 | 21.05 |
| Kellogg | 0.58 | 0.59 | 1.72 |
| Mondelez International | 0.35 | 0.3850 | 10.00 |
| Penske | 0.50 | 0.53 | 6.00 |
| PPG Industries | 0.59 | 0.62 | 5.08 |
| Stanley Black & Decker | 0.79 | 0.80 | 1.27 |
| Unilever | 0.4510 | 0.4555 | 1.00 |
| Walgreens Boots Alliance | 0.4775 | 0.48 | 0.52 |
| Wells Fargo & Company | 0.25 | 0.30 | 20.00 |
Information was obtained from the companies directly.
History of Cintas
Cintas Corporation recently increased their quarterly dividend by 21.05% from $0.95 to $1.15. With this dividend increase, Cintas now pays an annual dividend of $4.60 per share to their shareholders. Cintas has paid a dividend every year since it went public in 1983, which is a total of 39 consecutive years.
Cintas is an American company headquartered in Cincinnati, Ohio. The underpinnings of the fourth generation family business was created by Doc and Amelia Farmer in 1929. They were originally circus performers however, due to the Great Depression, the circus was shut down and they were forced to look for another source of income. Doc and Amelia saw potential in collecting used rags that factories would throw away. They took the dirty rags, washed them, and then sold them back to various businesses within Cincinnati.
At the start of the 1940’s, Doc and Amelia’s son, Hershell Farmer, took over the company and began to wash and resell shop towels instead of the old rags. This change transformed Cintas into a service company. Hershell eventually passed the business onto his son, Richard Farmer, in 1959. Richard wanted to grow the business and had big ambitions for the company. He envisioned the company exploring uniform rentals as well as many other different areas. Richard along with his fellow CEO, Bob Kohlhepp, eventually guided the company into facility services, fire protection, and first aid safety. The Cintas we know of today was officially founded by Richard in 1968.
Cintas currently has 460 operational facilities and approximately 40,000 employee-partners as they like to call it. In 2021, the company had over 7.10 billion dollars in sales. Cintas provides over one million fellow businesses with a wide variety of services and products. Some of the products include uniforms, cleaning supplies, mats, and first aid essentials, just to name a few. Cintas has rental programs for its stylish apparel where they will launder and deliver the clothing. They also take care of washrooms, entrance mats and microfiber products. Cintas is responsible for making sure businesses are clean and organized so they can run smoothly.
Being a sustainable company is of utmost importance to Cintas. This mindset started back with Doc and Amelia as they wanted to re-use the perfectly good rags that companies didn’t bother to launder. Hershell carried these values on as he wanted to provide businesses with uniforms that can be washed and re-used. Richard Farmer still carries out these values, as he ensures the company re-uses as much product as they can. Whether its uniforms, cloths, mats, or anything they can do to lessen their environmental impact.
"How will you replace your current income in retirement?"™ - Jim Seyers