Insperity Announces $2 Special Dividend, Quarterly Dividend of $0.45, and Expands Repurchase Program by 1 Million Shares
Insperity, Inc., a leading provider of human resources and business performance solutions for America’s best businesses, 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.
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“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.”