Kelly Services Temporarily Suspends Cash Dividend
11 Février 2009 - 9:20PM
Marketwired
Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB), a world
leader in human resources solutions, today announced that its Board
of Directors voted to temporarily suspend the payment of the
quarterly cash dividend on Kelly Services Class A and Class B
common stock.
Carl Camden, President and Chief Executive Officer, stated, "The
Board has determined that the suspension of the cash dividend is
prudent given the economic turmoil the global economy is presently
experiencing and its impact on our business. Despite this action,
we continue to believe that dividends are an important element in
delivering value to our shareholders and our Board intends to
re-address payment of a dividend as the economic environment
improves. Kelly has a 47-year history of paying dividends."
Camden emphasized that the Board and management believe this
action is in the best interest of shareholders to help sustain
operations and ensure the long-term strength of Kelly, so that it
remains a leading staffing company in the future.
In support of management's efforts during this difficult period,
Mr. T. E. Adderley, Chairman, and the independent members of the
Board of Directors voluntarily reduced their current compensation
ten percent.
About Kelly Services
Kelly Services, Inc. (NASDAQ: KELYA) (NASDAQ: KELYB) is a world
leader in human resources solutions headquartered in Troy,
Michigan, offering temporary staffing services, outsourcing, vendor
on-site and full-time placement to clients on a global basis. Kelly
provides employment to nearly 650,000 employees annually, with
skills including office services, accounting, engineering,
information technology, law, science, marketing, creative services,
light industrial, education, and health care. Revenue in 2008 was
$5.5 billion. Visit www.kellyservices.com.
Analyst Contact: James Polehna (248) 244-4586
james_polehna@kellyservices.com Media Contact: Judith Clark (248)
244-5362 Judith_clark@kellyservices.com
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