Insperity Announces $2 Special Dividend, Quarterly Dividend of $0.45, and Expands Repurchase Program by 1 Million Shares

Rhea-AI Summary

Insperity, Inc. (NYSE: NSP) has declared a special cash dividend of $2 per share, in addition to its regular quarterly dividend of $0.45 per share. The total dividend payout is expected to return approximately $77 million to shareholders on December 20, 2021. Furthermore, the board approved an expansion of its stock repurchase program by 1 million shares, increasing its total repurchase capacity to 1.9 million shares. These measures reflect the company's confidence in its business model and aim to enhance shareholder value through dividends and stock repurchases.

Positive

• Declaration of a special cash dividend of $2 per share, returning approximately $77 million to shareholders.
• Expansion of stock repurchase program by 1 million shares, totaling 1.9 million shares available for repurchase.
• Actions reflect confidence in business model and strong cash flow.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Insperity, Inc. (NYSE: NSP), a leading provider of human resources and business performance solutions for America’s best businesses, today announced that its board of directors has declared a special cash dividend of $2 per share. This special dividend is in addition to the regular quarterly dividend of $0.45 per share. The special and quarterly cash dividends will be paid on December 20, 2021 to all stockholders of record as of December 6, 2021. The special dividend is expected to return to shareholders approximately $77 million.

Insperity’s board of directors also authorized an expansion of its stock repurchase program by an additional 1 million shares, and as a result will have approximately 1.9 million shares available for repurchase. Purchases may be made from time to time directly from stockholders or in the open market, including through Rule 10b5-1 prearranged stock trading plans designed to facilitate Insperity’s repurchase of its common stock during times it would not otherwise be in the market due to self-imposed trading blackout periods or possible possession of material nonpublic information.

“These actions taken by the Insperity Board of Directors reflect our confidence in our business model and the strong cash flow generated by continuing to deliver our sophisticated HR solutions to help the best small and medium sized businesses in the country succeed,” commented Paul J. Sarvadi, Chairman and CEO of Insperity. “Our objective is to continue to provide superior returns to shareholders through share price appreciation, share repurchases, and dividends, fueled by continued execution of our strategic plan to capitalize on the robust market opportunity ahead for Insperity.”

About Insperity

Since 1986, Insperity’s mission has been to help businesses succeed so communities prosper. Offering the most comprehensive suite of scalable HR solutions available in the marketplace, Insperity is defined by an unrivaled breadth and depth of services and level of care. Through an optimal blend of premium HR service and technology, Insperity delivers the administrative relief, reduced liabilities and better benefit solutions that businesses need for sustained growth. With 2020 revenues of $4.3 billion and more than 80 offices throughout the U.S., Insperity is currently making a difference in thousands of businesses and communities nationwide. For more information, visit http://www.insperity.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211122005773/en/

Investor Relations Contact:

Douglas S. Sharp

Senior Vice President of Finance,

Chief Financial Officer and Treasurer

(281) 348-3232

Investor.Relations@Insperity.com

News Media Contact:

Larry Shaffer

SVP of Marketing and Business Development

(281) 312-3020

Media@Insperity.com

Source: Insperity, Inc.

FAQ

What is the special cash dividend declared by Insperity (NSP)?

Insperity has declared a special cash dividend of $2 per share, in addition to its regular quarterly dividend of $0.45.

When will the dividends be paid to shareholders of Insperity (NSP)?

The special and quarterly dividends will be paid on December 20, 2021, to stockholders of record as of December 6, 2021.

How many shares are available for repurchase under Insperity's (NSP) stock repurchase program?

Insperity's board has expanded its stock repurchase program by an additional 1 million shares, totaling approximately 1.9 million shares available for repurchase.

What is the purpose of Insperity's (NSP) stock repurchase program?

The stock repurchase program aims to enhance shareholder value through share price appreciation and return of capital.