CHANTILLY, Va., May 21, 2019 /PRNewswire/ -- Perspecta Inc.
(NYSE: PRSP), a leading U.S. government services provider,
announced today that its board of directors approved an increase in
the company's regular cash dividend approach for fiscal year 2020,
declaring a cash dividend of $0.06
per share for the quarter ended March 31,
2019, a 20 percent increase over the previous quarterly cash
dividend of $0.05 per share. The
dividend is payable July 16, 2019 to
shareholders of record at the close of business on June 5, 2019. Payment of quarterly dividends is
subject to authorization by Perspecta's board of directors.
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"This dividend increase demonstrates the confidence of the board
of directors and management team in the strength of the company's
cash flow generation and ability to generate value for our
shareholders," said Mac Curtis,
president and chief executive officer of Perspecta. "We are
committed to returning cash to shareholders as part of our balance
capital allocation program, and the dividend is an important
component of that plan. We still have ample flexibility to pay down
debt and make disciplined investments for sustainable growth."
In addition, Glenn A. Eisenberg
was appointed to the Perspecta board of directors effective
May 21, 2019. Eisenberg, who will
serve on the board of directors' audit committee, brings extensive
experience in accounting, finance and other public company boards.
Eisenberg, 58, currently serves as the executive vice president,
chief financial officer for Laboratory Corporation of America
Holdings, the operator of one of the world's largest clinical
laboratory networks, a position he has held since June 2014.
"We are delighted to welcome Glenn
Eisenberg to our board of directors," said Mike Lawrie, chairman of the Perspecta board of
directors. "Glenn brings a wealth of knowledge in accounting,
finance and value-accretive transactions. His demonstrated
experience driving shareholder value and highly relevant board and
audit committee experience make him an invaluable addition to our
board."
From 2002 until 2014, Eisenberg served as the executive vice
president, finance and administration and chief financial officer
at The Timken Company, a leading global manufacturer of highly
engineered bearings and alloy steels and related products and
services. Previously, he served as president and chief operating
officer of United Dominion Industries, now a subsidiary of SPX
Corporation after working in several roles in finance, including
executive vice president and chief financial officer of United
Dominion. Eisenberg has served on the board of directors of US
Ecology, Inc. since February 2018.
Previously, he served many years on the boards of directors of
Family Dollar Stores Inc., where he chaired the audit committee,
and Alpha Natural Resources Inc., where he was the lead independent
director and chair of the nominating and corporate governance
committee. Eisenberg holds a Bachelor of Arts from Tulane University and a Masters of Business
Administration from Georgia State
University.
About Perspecta Inc.
At Perspecta (NYSE: PRSP), we question, we seek and we solve.
Perspecta brings a diverse set of capabilities to our U.S.
government customers in defense, intelligence, civilian, health
care and state and local markets. Our 260+ issued, licensed and
pending patents are more than just pieces of paper, they tell the
story of our innovation. With offerings in mission services,
digital transformation and enterprise operations, our team of
14,000 engineers, analysts, investigators and architects work
tirelessly to not only execute the mission, but build and support
the backbone that enables it. Perspecta was formed to take on big
challenges. We are an engine for growth and success and we enable
our customers to build a better nation. For more information
about Perspecta, visit perspecta.com.
This press release may contain forward-looking statements.
These forward-looking statements are made on the basis of the
current beliefs, expectations and assumptions of the management of
Perspecta and are subject to significant risks and uncertainty.
Readers are cautioned not to place undue reliance on any such
forward-looking statements. All such forward-looking statements
speak only as of the date they are made, and Perspecta undertakes
no obligation to update or revise these statements, whether as a
result of new information, future events or otherwise. Although
Perspecta believes that the expectations reflected in these
forward-looking statements are reasonable, these statements involve
a variety of risks and uncertainties that may cause actual results
to differ materially from what may be expressed or implied in these
forward-looking statements.
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SOURCE Perspecta Inc.