Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Booz Allen Rises on Plan for Special Dividend: Washington Mover

Don't Miss Out —
Follow us on:

May 30 (Bloomberg) -- Booz Allen Hamilton Holding Corp. gained the most since 2010 after the government-consulting company declared a special dividend of $1.50 a share.

The company advanced 13 percent to $16.86 at the close in New York, for the biggest jump since Nov. 17, 2010. The McLean, Virginia-based company, which is 71 percent-owned by Carlyle Group LP, has fallen 2.3 percent this year. The dividend is payable June 29 to holders of record June 11.

Booz Allen, which in July spun off its consulting operations for state and local governments and transportation, said it expanded its commercial and international business this year after the expiration of a non-compete agreement.

“The special dividend is driving the stock up,” said William Loomis, an analyst with Stifel Nicolaus & Co., who called the payout a surprise.

The company’s fiscal fourth-quarter results were generally in line with “revenue outlook reduced and contract awards weaker leading to greater uncertainty,” Loomis said via e-mail.

Booz Allen, in a preliminary report for the quarter ended March 31, posted profit excluding certain items of $62.2 million, or 44 cents a share. Analysts on average had estimated 40 cents, according to data compiled by Bloomberg.

Revenue was $1.54 billion, the company said. That trailed the average estimate of $1.55 billion, according to Bloomberg’s compilation.

Booz Allen also declared its second regular quarterly cash dividend of 9 cents a share, with the same payable and record dates as for the special dividend.

To contact the reporter on this story: Niamh Ring in New York at nring@bloomberg.net

To contact the editor responsible for this story: Kevin Miller at kmiller@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.