Insperity Announces $2 Special Dividend, Quarterly Dividend of $0.45, and Expands Repurchase Program by 1 Million Shares
23 November 2021 - 12:45AM
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 has
declared a special cash dividend of $2 per share. This special
dividend is in addition to the regular quarterly dividend of $0.45
per share. The special and quarterly cash dividends will be paid on
December 20, 2021 to all stockholders of record as of December 6,
2021. The special dividend is expected to return to shareholders
approximately $77 million.
Insperity’s board of directors also authorized an expansion of
its stock repurchase program by an additional 1 million shares, and
as a result will have approximately 1.9 million shares available
for repurchase. 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 our business model and the strong cash flow
generated by continuing to deliver our sophisticated HR solutions
to help the best small and medium sized businesses in the country
succeed,” commented Paul J. Sarvadi, Chairman and CEO of Insperity.
“Our objective is to continue to provide superior returns to
shareholders through share price appreciation, share repurchases,
and dividends, fueled by continued execution of our strategic plan
to capitalize on the robust market opportunity ahead for
Insperity.”
About Insperity
Since 1986, Insperity’s mission has been to help businesses
succeed so communities prosper. Offering the most comprehensive
suite of scalable HR solutions available in the marketplace,
Insperity is defined by an unrivaled breadth and depth of services
and level of care. Through an optimal blend of premium HR service
and technology, Insperity delivers the administrative relief,
reduced liabilities and better benefit solutions that businesses
need for sustained growth. With 2020 revenues of $4.3 billion and
more than 80 offices throughout the U.S., Insperity is currently
making a difference in thousands of businesses and communities
nationwide. For more information, visit
http://www.insperity.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211122005773/en/
Investor Relations Contact: Douglas S. Sharp Senior Vice President
of Finance, Chief Financial Officer and Treasurer (281) 348-3232
Investor.Relations@Insperity.com
News Media Contact: Larry Shaffer SVP of Marketing and
Business Development (281) 312-3020 Media@Insperity.com
Insperity (NYSE:NSP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Insperity (NYSE:NSP)
Historical Stock Chart
From Jul 2023 to Jul 2024