MINNEAPOLIS--(BUSINESS WIRE)--G&K Services, Inc. (NASDAQ: GKSR), a market leader in branded identity apparel programs and facility services, announced today that its Board of Directors has declared a quarterly dividend of $0.13 per share, an increase of approximately 37 percent from its previous quarterly dividend of $0.095 per share.
“The company continues to generate strong cash flow,” said Jeffrey L. Wright, executive vice president and chief financial officer. “As such, we’re pleased to announce a substantial increase in our quarterly dividend, our sixth consecutive year in doing so. Our game plan continues to deliver improved financial results and provides even greater confidence in our ability to increase dividends to shareholders while also boosting investments in our business.” The company has paid a dividend for forty-two consecutive years since going public in 1969.
This quarterly dividend will be payable on September 29, 2011 to shareholders of record at the close of business on September 22, 2011.
Safe Harbor for Forward-Looking Statements
Statements
made in this press release concerning the company’s intentions,
expectations or predictions about future results or events are
“forward-looking statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements reflect the
company’s current expectations or beliefs, and are subject to risks and
uncertainties that could cause actual results or events to vary from
stated expectations, which could be material and adverse. You are
cautioned not to place undue reliance on these statements, and the
company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Information concerning potential factors that could affect future financial results is included in the company’s Annual Report on Form 10-K for the fiscal year ended July 2, 2011.
About G&K Services, Inc.
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. Headquartered in Minneapolis, Minnesota, G&K
Services employs nearly 7,500 employees serving approximately 165,000
customers from over 160 facilities in North America and Europe. G&K
Services is a publicly held company traded over the NASDAQ Global Select
Market under the symbol GKSR and is a component of the Standard & Poor’s
SmallCap 600 Index. For more information on G&K Services, visit the
company’s website at www.gkservices.com.