TAMPA, Fla., Dec. 3, 2014 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a provider of professional staffing services and solutions, today announced that its Board of Directors has approved an increase of the Firm's quarterly cash dividend to $0.11 per share from the current $0.10 per share previously announced on October 27, 2014. The new cash dividend is an increase of 10% over the Firm's current dividend rate and will be payable December 26, 2014 to shareholders of record as of the close of business on December 12, 2014.
David L. Dunkel, Kforce Chairman and CEO commented; "The decision by the Board of Directors to increase the dividend 10% is a reflection of the Firm's continued strong cash generation and balance sheet, as well as a reaffirmation of our belief in the strength and sustainability of our business going forward. In addition, through December 2, 2014, the Firm has repurchased approximately 4.4 million shares of its common stock year-to-date which represents 13.1% of total shares outstanding at the beginning of 2014. The increase in our dividend, combined with our current share repurchase program, demonstrates our continued commitment to driving shareholder value."
Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing flexible and permanent staffing solutions in the skill areas of technology and finance & accounting. Backed by more than 2,600 associates and approximately 12,000 consultants on assignment, Kforce is committed to "Great People = Great Results" for our valued clients and candidates. Kforce operates with 63 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.
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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 Government Solutions segments, as well as the market for search and flexible staffing assignments; changes in the service mix; ability of the Firm to repurchase shares; 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, including the Firm's Form 10-K for the fiscal year ending December 31, 2013, 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, successfully put into place the people and processes that will create future success or further accelerate our revenue. The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof contained in this press release identify certain of such forward-looking statements, which speak only as of the date of this press release. 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: Michael R. Blackman Chief Corporate Development Officer (813) 552-2927