Kelly Services (KELYA) will suspend its quarterly dividend because of the COVID-19 pandemic. The employment services company last hiked its dividend in 2016 with a 50.0 percent increase of the quarterly dividend to $0.075 per share.
In today's press release the company responds to the COVID-19 crisis. Kelly states that given the level of uncertainty surrounding the duration of the COVID-19 crisis, the company’s board also supported CEO Peter Quigley’s decision to withdraw full-year financial guidance and voted to suspend the quarterly dividend until conditions improve.
Kelly Services, Inc. is an employment services company specialized in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. Headquartered in Troy, Michigan, Kelly provides workforce solutions to a diversified group of customers in three regions: the Americas; Europe, the Middle East, and Africa; and Asia Pacific. The company's operations are divided into three business segments: Americas Staffing, Global Talent Solutions and International Staffing. Kelly Services was founded by William R. Kelly in 1946 and had been paying a quarterly dividend again since 2011. The dividend was suspended in 2009.