Information Services Group Initiates Quarterly Cash Dividend
May 10 2021 - 4:20PM
Business Wire
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm, today announced that its
Board of Directors has approved the initiation of a quarterly cash
dividend to holders of ISG common stock.
ISG will pay a second-quarter cash dividend of $0.03 per share
of common stock on June 18, 2021 to shareholders of record at the
close of business on June 4, 2021. The Board expects the
third-quarter dividend also will be set at $0.03 per share, with an
announcement expected August 9, 2021, and expects to pay a total
cash dividend of $0.12 over the four quarters ending in March 2022.
All future dividends will be subject to Board approval.
“The Board’s decision to initiate a recurring cash dividend, the
first in our 15 years as a public company, reflects our growing
business momentum and our unwavering commitment to creating
shareholder value over the long term,” said Michael P. Connors,
chairman and CEO of ISG.
Pointing to the record $44 million of cash flow from operations
ISG generated in 2020 and the record $12 million in the first
quarter of 2021, Connors said the new cash dividend “is made
possible by the strong cash-generating power of our business and
our disciplined operating approach.”
In addition to returning capital to ISG shareholders, Connors
said the firm’s strong free cash flow allows ISG to reinvest in the
growth of the business and prudently manage debt. ISG has paid down
nearly 40 percent of its debt since December 2016, he said.
“As we continue to build on our business momentum in 2021, the
initiation of a dividend is a logical next step that adds another
element to our capital allocation strategy,” Connors said. “We
believe a dividend will provide predictable ongoing returns, while
continuing to allow for the repurchase of shares, repayment of debt
and the pursuit of acquisitions on an opportunistic basis.”
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 700 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including automation, cloud and data analytics; sourcing advisory;
managed governance and risk services; network carrier services;
strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,300
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210510005812/en/
Press Contact: Will Thoretz +1 203 517 3119
will.thoretz@isg-one.com
Investor Contact: David Berger +1 203 517 3104
david.berger@isg-one.com
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