Kforce to Issue Special Dividend of $1.00 Per Share
TAMPA, Fla., Dec. 7, 2012 (GLOBE NEWSWIRE) -- Kforce Inc. (Nasdaq:KFRC), a
provider of professional staffing services and solutions, today announced that
the Board of Directors has declared a special cash dividend on Kforce common
stock of $1.00 per share, payable December 27, 2012, to shareholders of record
as of the close of business on December 17, 2012. The aggregate amount of
payment to be made in connection with this special dividend is expected to be
approximately $35 million.
David L. Dunkel, Chairman and CEO stated, "We are pleased to be in the
position to announce a significant special dividend. We believe that our
present level of liquidity warrants the distribution to shareholders, which
our Board of Directors approved today, and that Kforce has prudently used its
credit facility in the past to drive shareholder value while limiting
financial leverage.We believe that after this distribution the Company has
adequate financial means to execute future growth strategies, pay down debt
and remain opportunistic in repurchasing shares."
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
2,200 associates and approximately 10,500 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.
The Kforce Inc. logo is available at
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
Section27A of the Securities Act of 1933, as amended, and Section21E 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, Health
Information Management 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 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 and successfully put into
place the people and processes that will create future success. 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 COMPANY
Chief Corporate Development Officer
Kforce Inc. Logo
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