Item 5. Market for Registrant's Common Equity,
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Item 5. Market for Registrant's Common Equity,
Related Stockholder Matters and Issuer Purchases of Equity Securities **
Market Information
Cintas' common stock is traded on the NASDAQ Global Select Market under the symbol "CTAS." The following table shows the high and low sales prices of shares of Cintas' common stock by quarter during the last two fiscal years:
| Fiscal 2011 | ||||||||
| Quarter Ended | High | Low | ||||||
| May 2011 | $ | 32.90 | $ | 27.22 | ||||
| February 2011 | 30.19 | 27.18 | ||||||
| November 2010 | 28.47 | 25.70 | ||||||
| August 2010 | 27.26 | 23.50 | ||||||
| Fiscal 2010 | ||||||||
| Quarter Ended | High | Low | ||||||
| May 2010 | $ | 28.79 | $ | 24.72 | ||||
| February 2010 | 30.00 | 23.10 | ||||||
| November 2009 | 30.85 | 26.51 | ||||||
| August 2009 | 28.30 | 21.30 |
Holders
At May 31, 2011, there were approximately 4,000 shareholders on record of Cintas' common stock. Cintas believes that this represents approximately 72,000 beneficial owners.
Dividends
Dividends on the outstanding common stock have been paid annually and amounted to $0.49 per share, $0.48 per share and $0.47 per share in fiscal 2011, 2010 and 2009, respectively.
Stock Performance Graph
The following graph summarizes the cumulative return on $100 invested in Cintas' common stock, the S&P 500 Stock Index and the common stocks of a selected peer group of companies. Because our products and services are diverse, Cintas does not believe that any single published industry index is appropriate for comparing shareholder return. Therefore, the peer group used in the performance graph combines four publicly traded companies in the business services industry that have similar characteristics as Cintas, such as route-based delivery of products and services. The companies included in the peer group are G & K Services, Inc., UniFirst Corporation, ABM Industries and Ecolab, Inc.
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Total shareholder return was based on the increase in the price of the stock and assumed reinvestment of all dividends. Further, total return was weighted according to market capitalization of each company. The companies in the peer group are not the same as those considered by the Compensation Committee of the Board of Directors.
Total Shareholder Returns Comparison of Five-Year Cumulative Total Return

Purchases of Equity Securities by the Issuer and Affiliated Purchases
On May 2, 2005, Cintas announced that the Board of Directors authorized a $500.0 million share buyback program at market prices. In July 2006, Cintas announced that the Board of Directors approved the expansion of its share buyback program by an additional $500.0 million. The Board of Directors did not specify an expiration date for the share buyback program.
From the inception of the May 2, 2005 share buyback program, Cintas purchased a total of approximately 28.0 million shares of Cintas common stock at an average price of $35.78 per share for a total purchase price of $1.0 billion. The May 2, 2005 share buyback program has been completed.
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On October 26, 2010, Cintas announced that the Board of Directors authorized a $500.0 million share buyback program at market prices.
| Period | Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of the publicly announced plan | Maximum approximate dollar value of shares that may yet be purchased under the plan | ||||||||||
| March 2011 | — | $ | — | — | $ | 500,000,000 | ||||||||
| April 2011 | 2,446,673 | 30.29 | 2,446,673 | 425,883,212 | ||||||||||
| May 2011 | 5,274,498 | 31.54 | 7,721,171 | 259,550,601 | ||||||||||
| Total | 7,721,171 | $ | 31.14 | 7,721,171 | $ | 259,550,601 | ||||||||
Beginning in April 2011, under the October 26, 2010 program, through July 29, 2011, Cintas has purchased a total of approximately 15.8 million shares of Cintas stock at an average price of $31.70 per share for a total purchase price of $500.0 million. These purchases complete the October 26, 2010 share buyback program.
During the quarter ended May 31, 2011, Cintas purchased approximately 1,000 shares of Cintas common stock in trade for employee payroll taxes due on restricted stock options that vested during the fiscal year. These shares were purchased at an average price of $29.85 per share for a total purchase price of less than $0.1 million.
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