Insperity Announces Two-For-One Stock Split, $2 Special Dividend, Quarterly Dividend of $0.30, & Expands Repurchase Program b...
16 Noviembre 2017 - 4:45PM
Business Wire
Insperity, Inc. (NYSE: NSP), a leading provider of human
resources and business performance solutions for America’s best
businesses, today announced that its board of directors approved a
2-for-1 stock split in the form of a 100% stock dividend. The stock
dividend is payable on December 18, 2017 to all stockholders of
record as of December 4, 2017. Insperity’s board of directors also
declared a special cash dividend of $2 per share. This special
dividend is in addition to the regular quarterly dividend of $0.30
per share. The special and quarterly cash dividends will also be
paid on December 18, 2017, to all stockholders of record as of
December 4, 2017. The cash dividends will not be payable on any
shares to be issued pursuant to the 2-for-1 stock split. The
special dividend is expected to return to stockholders
approximately $42 million.
Insperity’s board of directors also authorized an expansion of
its stock repurchase program by an additional 500,000 shares, and
as a result will have approximately 2.8 million shares available
for repurchase after giving effect to the stock split. Purchases
may be made from time to time directly from stockholders or in the
open market, including through Rule 10b5-1 prearranged stock
trading plans designed to facilitate Insperity’s repurchase of its
common stock during times it would not otherwise be in the market
due to self-imposed trading blackout periods or possible possession
of material nonpublic information.
“These actions taken by the Insperity Board of Directors reflect
our confidence in the unique business model we have at Insperity,
and the strong cash flow generated by continuing execution of our
strategic plan,” commented Paul J. Sarvadi, Chairman and CEO of
Insperity. “Our objective is to continue to provide superior
returns to shareholders through share price appreciation driven by
double digit earnings growth, share repurchases, and
dividends.”
About Insperity
Insperity, a trusted advisor to America’s best businesses for
more than 31 years, provides an array of human resources and
business solutions designed to help improve business performance.
Insperity® Business Performance Advisors offer the most
comprehensive suite of products and services available in the
marketplace. Insperity delivers administrative relief, better
benefits, reduced liabilities and a systematic way to improve
productivity through its premier Workforce Optimization® solution.
Additional company offerings include Human Capital Management,
Payroll Services, Time and Attendance, Performance Management,
Organizational Planning, Recruiting Services, Employment Screening,
Financial Services, Expense Management, Retirement Services and
Insurance Services. Insperity business performance solutions
support more than 100,000 businesses with over 2 million employees.
With 2016 revenues of $2.9 billion, Insperity operates in 61
offices throughout the United States. For more information, visit
http://www.insperity.com.
The statements contained herein that are not historical facts
are forward-looking statements within the meaning of the federal
securities laws (Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934). You can
identify such forward-looking statements by the words “expects,”
“intends,” “plans,” “projects,” “believes,” “estimates,” “likely,”
“possibly,” “probably,” “goal,” “opportunity,” “objective,”
“target,” “assume,” “outlook,” “guidance,” “predicts,” “appears,”
“indicator” and similar expressions. Forward-looking statements
involve a number of risks and uncertainties. In the normal course
of business, Insperity, Inc., in an effort to help keep our
stockholders and the public informed about our operations, may from
time to time issue such forward-looking statements, either orally
or in writing. Generally, these statements relate to business plans
or strategies, projected or anticipated benefits or other
consequences of such plans or strategies, or projections involving
anticipated revenues, earnings, unit growth, profit per worksite
employee, pricing, operating expenses or other aspects of operating
results. We base the forward-looking statements on our
expectations, estimates and projections at the time such statements
are made. These statements are not guarantees of future performance
and involve risks and uncertainties that we cannot predict. In
addition, we have based many of these forward-looking statements on
assumptions about future events that may prove to be inaccurate.
Therefore, the actual results of the future events described in
such forward-looking statements could differ materially from those
stated in such forward-looking statements. Among the factors that
could cause actual results to differ materially are: (i) adverse
economic conditions; (ii) regulatory and tax developments and
possible adverse application of various federal, state and local
regulations; (iii) the ability to secure competitive replacement
contracts for health insurance and workers’ compensation insurance
at expiration of current contracts; (iv) cancellation of client
contracts on short notice, or the inability to renew client
contracts or attract new clients; (v) vulnerability to regional
economic factors because of our geographic market concentration;
(vi) increases in health insurance costs and workers’ compensation
rates and underlying claims trends, health care reform, financial
solvency of workers’ compensation carriers, other insurers or
financial institutions, state unemployment tax rates, liabilities
for employee and client actions or payroll-related claims; (vii)
failure to manage growth of our operations and the effectiveness of
our sales and marketing efforts; (viii) the impact of the
competitive environment in the PEO industry on our growth and/or
profitability; (ix) our liability for worksite employee payroll,
payroll taxes and benefits costs; (x) our liability for disclosure
of sensitive or private information; (xi) our ability to integrate
or realize expected returns on our acquisitions; (xii) failure of
our information technology systems; (xiii) an adverse final
judgment or settlement of claims against Insperity; and (xiv)
disruptions to our business resulting from the actions of certain
stockholders. These factors are discussed in further detail in
Insperity’s filings with the U.S. Securities and Exchange
Commission. Any of these factors, or a combination of such factors,
could materially affect the results of our operations and whether
forward-looking statements we make ultimately prove to be
accurate.
Except to the extent otherwise required by federal securities
law, we do not undertake any obligation to update our
forward-looking statements to reflect events or circumstances after
the date they are made or to reflect the occurrence of
unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20171116006531/en/
Insperity, Inc.Investor Relations Contact:Douglas S.
Sharp, 281-348-3232Senior Vice President of Finance,Chief Financial
Officer and TreasurerorNews Media Contact:Suzanne Haugen,
281-312-3543Public Relations
Managersuzanne.haugen@insperity.com
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