Kelly Services (KELYA) will raise its quarterly dividend by 50% to $0.075 per share in 2022. The staffing company suspended its quarterly dividend because of the COVID-19 pandemic and reinstated last year with a 5 cent quarterly payment. This hike to 7.5 cents brings the dividend back to the level before the suspension.
The dividend is payable June 9, 2022, to shareholders of record as of the close of business on May 26, 2022 and represents a 50% increase. Commenting on the dividend increase, Quigley said, "We are pleased that our improving operating results and strategic progress have given us the ability to return our dividend back to pre-pandemic levels and enhance shareholder value."
A new annual dividend rate of 30 cents per share for Kelly Services yields 1.7% at a stock price of $17.34. KELYA now pays an estimated total annual dividend of $12 million to shareholders.
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 since 2011.