UniFirst Corporation (NYSE:UNF) Increases Dividend to $0.38 Per Share

UniFirst Corporation (NYSE:UNF) announced a quarterly dividend on Friday, October 30th. Stockholders of record on Friday, November 13th will be given a dividend of $0.3750 per share by the textile maker on Tuesday, December 15th. This represents a $1.50 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, November 13th. This is a 2.7% increase from UniFirst’s previous quarterly dividend of $0.3650.

UniFirst has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 7 years. UniFirst has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings.

UniFirst Stock Up 0.1%

Shares of NYSE UNF opened at $238.27 on Wednesday. UniFirst has a twelve month low of $151.51 and a twelve month high of $306.67. The firm has a fifty day simple moving average of $261.22 and a 200 day simple moving average of $261.50. The company has a market capitalization of $4.31 billion, a PE ratio of 39.65 and a beta of 0.65.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, October 21st. The textile maker reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.14). The firm had revenue of $645.01 million during the quarter, compared to analyst estimates of $634.40 million. UniFirst had a net margin of 4.34% and a return on equity of 6.65%. UniFirst’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 EPS. As a group, equities analysts expect that UniFirst will post 8.52 earnings per share for the current fiscal year.

About UniFirst

UniFirst Corporation provides uniform rental and workplace services to businesses across a range of industries. Its programs include workwear selection, laundering, inspection, repair, and scheduled delivery, as well as sales of uniforms and related apparel. The company also supplies facility services such as floor mats, towels, restroom products, and first aid and safety supplies. Through specialized operations, UniFirst provides cleanroom garments and related services for businesses that require controlled environments.