The Hackett Group (HCKT) will raise its dividend by 5.6 percent to $0.095 per share quarterly in 2020. The consulting company has now increased its dividend for 7 consecutive years and now switches from semi-annual to quarterly payments.
The quarterly dividend of 9.5 cents per share for its shareholders of record on June 30, 2020 will 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.
The Hackett Group, Inc. is an advisory and technology consulting company. The company's services include business transformation, enterprise performance management, working capital management and global business services.