Job Hunting

Bullish on Exec Recruiting, Heidrick Pays Dividend

The headhunter's optimism suggests job churn for CFOs.
Stephen TaubSeptember 20, 2007

Touting bright prospects for executive recruiting in general and for its own growth in particular, Heidrick & Struggles International reported on Thursday that it would begin paying a dividend.

The headhunting giant, which has placed its fair share of finance executives, said its board of directors has approved the start of a quarterly cash dividend of 13 cents per share. This works out to a 52 cent dividend yearly.

“We are confident we can initiate a quarterly dividend while we continue our share repurchase program, invest in the growth of our business, and make accretive acquisitions,” Kevin Kelly, chief executive officer of Heidrick & Struggles he added.

Heidrick can easily afford to pay a dividend. It has 18.1 million shares outstanding and had more than $109 million in cash and equivalents on its balance sheet at the end of the June quarter.