| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
BGSF Inc. (NYSE:BGSF) shares surged after the company said its board approved a special cash dividend of $2.00 per share, payable Sept. 30 to shareholders of record as of Sept. 23. The dividend follows the sale of its Professional Division and reflects its plan to return value to investors.
Interim Co-CEOs Kelly Brown and Keith Schroeder said the dividend was the "most prudent step" to increase shareholder value while maintaining liquidity for future opportunities.
Recently, the company completed the $99 million sale of its Professional Division to INSPYR Solutions, a portfolio company of A&M Capital Partners. Management said the proceeds will primarily be used to pay down debt and fund investments in its property management business.
Also Read: Why Professional Diversity Network (IPDN) Stock Is Up Over 200% Friday
BGSF plans to expand geographically, strengthen its specialized property management services, and scale operations to maintain financial stability. Brown and Schroeder said the divestiture positions the company to focus on its core strengths while creating long-term value.
The executives also wished success to the Professional Division team, now part of INSPYR, saying they expect the group to contribute significantly to INSPYR's growth.
Relevant ETFs include the SPDR S&P 600 Small Cap ETF (NYSE:SLY) and the iShares Russell 2000 ETF (NYSE:IWM).
Price Action: At last check Friday, BGSF shares were trading higher by 14.37% at $7.320.
Read Next:
Image via Shutterstock
