G&K Services announces increase in quarterly dividend
25 Aug '07
1 min read
G&K Services Inc, a market leader in branded identity apparel programs and facility services, announced that its Board of Directors has declared a quarterly dividend of $0.05 per share, an increase of 25 percent from its previous quarterly dividend of $0.04 per share.
"We're pleased with the Board's decision to increase the quarterly dividend for the second consecutive year," said Jeffrey Wright, senior vice president and chief financial officer. "Increasing the quarterly dividend, along with the company's recently announced share repurchase program, demonstrates our confidence in our strategic plan and our commitment to increasing shareholder returns."
The company has paid a dividend for thirty-eight consecutive years since going public in 1969. In the future, the company expects to increase its dividend periodically, subject to future financial performance and capital requirements.
The next quarterly dividend will be payable on September 27, 2007 to shareholders of record at the close of business on September 20, 2007.
marketing@alchempro.com
