GOOSE CREEK, SC - HireQuest, Inc. (NASDAQ:HQI), a company specializing in staffing and recruitment services, announced today that its Board of Directors has approved a quarterly dividend of $0.06 per share. The dividend is scheduled to be paid on September 16, 2024, to shareholders who are on record as of the close of business on September 2, 2024.
With a network of over 400 franchisee-owned offices across the United States, HireQuest provides employment for about 73,000 individuals each year. The company operates across various industries, including construction, manufacturing, hospitality, clerical, medical, and financial services, through its brands such as HireQuest Direct, Snelling, and DriverQuest, among others.
The declaration and payment of future dividends are subject to the Board's quarterly review of the company's financial health and cash requirements. HireQuest has cautioned that there is no guarantee of future dividend declarations, and the current dividend declaration is contingent upon the Board not rescinding the decision before the payment date.
HireQuest's forward-looking statements regarding dividend payments and the company's performance are based on management's current expectations and market conditions. However, these statements are subject to various risks and uncertainties, which could affect the company's ability to pay future dividends.
InvestingPro Insights
As HireQuest, Inc. (NASDAQ:HQI) announces its upcoming dividend, investors may find the following metrics from InvestingPro particularly informative. The company's market capitalization stands at a solid $185.42 million, reflecting its presence in the staffing and recruitment industry. With a P/E ratio of 36.07, the company is trading at a high earnings multiple, which suggests a strong investor belief in its future earnings potential. However, it is important to note that the adjusted P/E ratio for the last twelve months as of Q2 2024 is lower at 22.54, indicating a more favorable earnings perspective over time.
Looking at the company's financial health, HireQuest's liquid assets surpass its short-term obligations, which is a positive sign of financial stability. Additionally, the firm operates with a moderate level of debt, balancing leverage with financial prudence. This is particularly relevant for dividend-seeking investors who prioritize the sustainability of payouts. The company's gross profit margin for the last twelve months as of Q2 2024 is an impressive 100%, with an operating income margin of 27.67%, showcasing efficient management of its operations and cost structure.
For those interested in further insights, there are additional InvestingPro Tips available for HireQuest, Inc., which can be accessed at Investing.com/pro/HQI. These tips provide a deeper analysis that could be beneficial for making more informed investment decisions.
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