G&K Services announces Qtly dividend of $0.04 per share

25 Aug '06
2 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 cash dividend of $0.04 per share, an increase of 129 percent from its previous quarterly dividend of $0.0175 per share.

"We're pleased with the Board's decision to more than double the quarterly dividend," said Jeffrey Wright, Senior Vice President and Chief Financial Officer.

"Increasing the quarterly dividend demonstrates our confidence in our strategic vision and ability to generate strong cash flows. Importantly, our financial strength and flexibility also supports continued investment in strategic growth initiatives."

The company has paid a dividend for thirty-seven consecutive years since going public in 1969.

Prior to this increase, the company's quarterly dividend remained unchanged since 1994.

Moving forward, the company expects to increase its dividend periodically, subject to future financial performance and capital requirements.

The next dividend will be payable on October 5, 2006 to shareholders of record at the close of business on September 21, 2006.

Headquartered in Minneapolis, Minnesota, G&K Services Inc is a market leader in branded identity apparel programs and facility services in the United States, and is the largest such provider in Canada.

G&K operates over 140 processing facilities and branch offices, serving more than 160,000 customers.

G&K Services Inc

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