TAMPA, Fla., Dec. 4, 2013 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a provider of professional staffing services and solutions, today announced that its Board of Directors has declared a quarterly cash dividend on Kforce common stock of $0.10 per share. The cash dividend will be payable December 30, 2013 to shareholders of record as of the close of business on December 16, 2013.
"The Board of Directors is pleased to announce the inception of a quarterly cash dividend," said David L. Dunkel, Chairman and Chief Executive Officer. "Given our track record of positive cash generation, a regular dividend provides a consistent way to return capital to shareholders while still allowing the Firm the flexibility to invest in our growing business and repurchase shares. We believe this decision reflects Kforce's strong balance sheet and our optimism in the Firm's growth prospects."
Continued Mr. Dunkel; "As a result of an extensive review of our Kforce Government Solutions (KGS) business, we have decided to more specifically focus our investment on the solutions aspects of this business. We believe that this area offers the greatest opportunity to capitalize on our core competencies. As a result, we will be evaluating the carrying values of this unit's assets and goodwill during the fourth quarter of 2013. Further refining KGS is a logical step for us as we continue to narrow our focus, streamline our business mix and concentrate our resources on our best opportunities for growth."
Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing flexible and permanent staffing solutions in the skill areas of technology, finance & accounting, and health information management. Backed by more than 2,600 associates and approximately 10,300 consultants on assignment, Kforce is committed to "Great People = Great Results" for our valued clients and candidates. Kforce operates with 62 offices located throughout the United States and one office in the Philippines. For more information, please visit our Web site at http://www.kforce.com.
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Factors that could cause actual results to differ materially include the following: business conditions and growth in the staffing industry and general economy; competitive factors, risks due to shifts in the market demand, including, without limitation, shifts in demand for our Technology, Finance and Accounting and Health Information Management segments, as well as the market for search and flexible staffing assignments; changes in the service mix; ability of the Firm to complete acquisitions; and the risk factors listed from time to time in the Firm's reports filed with the Securities and Exchange Commission, as well as assumptions regarding the foregoing. In particular, there can be no assurance that we will continue to increase our market share, successfully manage risks to our revenue stream, improve operating leverage, successfully put into place the people and processes that will create future success or pay dividends. The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Firm undertakes no obligation to publicly update or revise any forward-looking statements. As a result, such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
CONTACT: AT THE FIRM Michael Blackman Chief Corporate Development Officer (813) 552-2927