- Second quarter dividend payment will be 9.5 cents per share with a record date of June 30, 2020 and payment date of July 10, 2020.
- Payment frequency changed to quarterly going forward
MIAMI–(BUSINESS WIRE)–The Hackett Group, Inc. (NASDAQ: HCKT), a global intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm, today announced that its Board of Directors declared a quarterly dividend of 9.5 cents per share for its shareholders of record on June 30, 2020 to be paid on July 10, 2020. The Company expects to pay dividends on a quarterly basis, subject to declaration, going forward.
In response to the economic disruption related to the COVID-19 pandemic, the Company previously announced that its Board of Directors deferred its regular semi-annual dividend declaration decision until closer to the end of the second quarter. The Board has determined to transition to a quarterly dividend payment cycle, beginning with this quarterly dividend, instead of paying the semi-annual dividend.
It is expected that the next quarterly dividend declaration decision will be made in September. The declaration of quarterly dividends going forward shall at all times be subject to the final determination of the Board of Directors that a dividend is prudent at that time in consideration of the needs of the business and other factors including the economic outlook, market factors and the Company’s ability to pay dividends under its credit agreement.
About The Hackett Group
The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices digital transformation firm to global companies, with offerings that include robotic process automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.
The Hackett Group has completed nearly 18,000 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 90% of the Fortune 100, 83% of the DAX 30 and 57% of the FTSE 100. These studies drive Hackett’s Digital Transformation Platform which includes the firm’s benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group’s clients and partners to achieve world-class performance.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause The Hackett Group’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that impact such forward-looking statements include, among others, the impact of the coronavirus pandemic, including the economic impact and the timing of an economic recovery, our ability to manage our business and capital resources through the pandemic, the ability of our products, services, or offerings mentioned in this release to deliver the desired effect, our ability to retain existing business, our ability to attract additional business, our ability to effectively market and sell our product offerings and other services, including those referenced above, the timing of projects and the potential for contract cancellations by our customers, especially given that our clients are also impacted by the coronavirus pandemic, changes in expectations regarding the business consulting and information technology industries, our ability to attract and retain skilled employees, possible changes in collections of accounts receivable due to the bankruptcy or financial difficulties of our customers, risks of competition, price and margin trends, foreign currency fluctuations, the impact of Brexit on our business, changes in general economic conditions and interest rates, our ability to mitigate the impact of the recent decline in our European operations, our ability to obtain debt financing through additional borrowings under our existing credit facility as well as other risks detailed in our Annual Report on Form 10-K for the most recent fiscal year and our Quarterly Report on Form 10-Q for the first fiscal quarter of fiscal 2020, each as filed with the Securities and Exchange Commission. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Robert A. Ramirez, CFO, 305-375-8005 or email@example.com