Cintas announces new $1B stock buyback authorization

Cintas (CTAS) announced that the Board of Directors approved an additional share buyback program under which the company may buy up to $1B of Cintas common stock at market prices. This program is in addition to a current program with $700M of Cintas common stock remaining. Thus, in total, the company may buy up to $1.7B of Cintas common stock at market prices. The number of shares to be purchased and the timing will be determined at the discretion of the Board of Directors, and purchases may be discontinued at any time.