Hudson Global announces cash dividend of $0.05 per quarter
Hudson Global, Inc. has announced that its board of directors has determined the company will pay a regular, quarterly cash dividend. The dividend will initially be set at $0.05 per share per quarter and the first dividend will be issued following the release of the company’s fourth quarter 2015 earnings results.
The company say it has continued to execute on its strategic actions by investing in core markets, divesting non-core businesses, enhancing brand differentiating offerings and reducing costs. The dividend announcement, it says, represents a continuation of these strategic actions, following the divestitures of non-core assets over the past year, beginning with the Legal eDiscovery business in late 2014 and concluding with the sale of the Americas IT staffing and Dutch businesses in mid-2015.
Stephen Nolan, chief executive officer at Hudson, said, “During 2015, we continued to narrow our focus on core businesses and reduce overhead costs while investing in fee earners and driving constant currency gross margin growth.”
“As we head into 2016, we remain focused on growing our business and improving operational results.”
“We are encouraged by the strategic progress of the company,” said Jeff Eberwein, chairman of the board of directors at Hudson. “The board is pleased to be able to pay a regular dividend to return value directly to our shareholders. The approval of this dividend demonstrates the board’s confidence in the company.”
The company will declare a record date and payment date for its first quarterly cash dividend in conjunction with its fourth quarter 2015 earnings results.