HireQuest, Inc. (NASDAQ:HQI) to Issue $0.06 Quarterly Dividend

HireQuest, Inc. (NASDAQ:HQI) announced a quarterly dividend on Tuesday, February 17th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.06 per share on Monday, March 16th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Monday, March 2nd.

HireQuest has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect HireQuest to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.9%.

HireQuest Stock Down 1.2%

Shares of HQI opened at $10.74 on Wednesday. HireQuest has a twelve month low of $7.38 and a twelve month high of $15.75. The stock has a market capitalization of $151.43 million, a P/E ratio of 21.48 and a beta of 1.10. The company has a 50 day moving average of $10.34 and a 200-day moving average of $9.61.

HireQuest declared that its board has authorized a share repurchase plan on Wednesday, December 17th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to reacquire up to 18.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About HireQuest

HireQuest, Inc is a publicly traded holding company that provides equipment rental and workforce solutions across North America through two primary operating subsidiaries. Its Coast Equipment Rentals division offers a broad range of support equipment—such as pumps, trench safety systems, power and HVAC units, air compressors, light towers and generators—to the construction, industrial, municipal and environmental markets. Coast Equipment Rentals operates more than 135 branch locations in 36 U.S.