Robert Half International, Inc.
), a leading staffing firm, has approved an increase in quarterly
cash dividend by a cent to 16 cents, thereby maintaining the
trend of returning wealth to its shareholders from time to time,
depending on market conditions. The new dividend of 16 cents will
be paid on Mar 15 to all the shareholders as of Feb 25, 2013.
The company paid its last dividend of 15 cents in the fourth
quarter of 2012 (reported on Jan 30), and also repurchased 1.2
million shares for a total of $34 million during the quarter.
There are approximately 11.4 million shares remaining under the
board approved stock repurchase plan.
Robert Half had cash and cash equivalents of $287.6 million at
the end of the fourth quarter versus $289.4 million at the end of
the third quarter. Capital expenditure was $14.0 million in the
quarter as against $11.6 million at the end of the third
The increase in dividends reflects the company's confidence in
its fundamentals. The company is cash rich and has been regularly
paying dividends and repurchasing shares, thereby bolstering
shareholder value. The company's commitment toward enhancing
shareholder return reflects its free cash flow generating
capability, sound liquidity position and well defined future
Overall, Robert Half's earnings have grown more than 20% year
over year for 11 straight quarters, including the fourth quarter
2012 earnings, driven by growing demand for skilled workforce and
We believe that the demand for the company's services, in
particular its staffing services, is highly dependent on the
state of the economy and the staffing needs of the company's
clients. A gradual improvement in economic conditions and in job
markets in the U.S. has led to a rise in the demand for the
company's specialized staffing and consulting services.
Robert Half currently carries a Zacks Rank #2 (Buy). Stocks
that are performing well and are worth considering in the
business services sector include
Korn Ferry International
AMN Healthcare Services
). While Korn Ferry and Manpower carry a Zacks Rank #1 (Strong
Buy), AMN Healthcare holds a Zacks Rank #2 (Buy).
AMN HLTHCR SVCS (AHS): Free Stock Analysis
KORN/FERRY INTL (KFY): Free Stock Analysis
MANPOWER INC WI (MAN): Free Stock Analysis
ROBT HALF INTL (RHI): Free Stock Analysis
To read this article on Zacks.com click here.