Healthcare Services Group, Inc. Increases Fourth Quarter Cash Dividend, Provides Update on 2016 Results
January 31 2017 - 4:15PM
Healthcare Services Group, Inc.’s (NASDAQ:HCSG) Board of Directors
has declared a quarterly cash dividend of $0.18625 per common
share, payable on March 24, 2017 to shareholders of record at
the close of business on February 17, 2017. This represents
the 55th consecutive quarterly cash dividend payment, as well as
the 54th consecutive increase since our initiation of quarterly
cash dividend payments in 2003.
The Company intends to release financial results for the three
months and year ended December 31, 2016 on Tuesday,
February 7, 2017. The Company will host a conference call on
Wednesday, February 8, 2017 at 8:30 a.m. Eastern Time to
discuss its results for the three months and year ended
December 31, 2016. The call may be accessed via phone at
800-893-5360. The call will be simultaneously webcast under the
“Events & Presentations” section of the investor relations page
on our website, www.hcsg.com. A replay of the webcast will
also be available on our website through approximately 10:00 p.m.
Eastern Time on Wednesday, February 8, 2017.
Cautionary Statement Regarding
Forward-Looking Statements
This release and any schedules incorporated by
reference into it may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934 (the
“Exchange Act”), as amended, which are not historical facts but
rather are based on current expectations, estimates and projections
about our business and industry, our beliefs and assumptions. Words
such as “believes,” “anticipates,” “plans,” “expects,” “will,”
“goal,” and similar expressions are intended to identify
forward-looking statements. The inclusion of forward-looking
statements should not be regarded as a representation by us that
any of our plans will be achieved. We undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. Such
forward-looking information is also subject to various risks and
uncertainties. Such risks and uncertainties include, but are not
limited to, risks arising from our providing services exclusively
to the health care industry, primarily providers of long-term care;
credit and collection risks associated with this industry; from
having several significant clients who each individually
contributed at least 3% with one as high as 9.5% of our total
consolidated revenues for the year ended December 31, 2016;
our claims experience related to workers’ compensation and general
liability insurance; the effects of changes in, or interpretations
of laws and regulations governing the industry, our workforce and
services provided, including state and local regulations pertaining
to the taxability of our services and other labor related matters
such as minimum wage increases; tax benefits arising from our
corporate reorganization and self-funded health insurance program
transition; risks associated with the reorganization of our
corporate structure; and the risk factors described in our Form
10-K filed with the Securities and Exchange Commission for the year
ended December 31, 2015 in Part I thereof under “Government
Regulation of Clients,” “Competition’’ and “Service
Agreements/Collections,” and under Item IA “Risk Factors”.
These factors, in addition to delays in payments
from clients, have resulted in, and could continue to result in,
significant additional bad debts in the near future. Additionally,
our operating results would be adversely affected if unexpected
increases in the costs of labor and labor-related costs, materials,
supplies and equipment used in performing services could not be
passed on to our clients.
In addition, we believe that to improve our
financial performance we must continue to obtain service agreements
with new clients, provide new services to existing clients, achieve
modest price increases on current service agreements with existing
clients and maintain internal cost reduction strategies at our
various operational levels. Furthermore, we believe that our
ability to sustain the internal development of managerial personnel
is an important factor impacting future operating results and
successfully executing projected growth strategies.
Healthcare Services Group, Inc. is the largest
national provider of professional housekeeping, laundry and dietary
services to long-term care and related health care facilities.
Company Contacts: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Daniel P.
McCartney |
|
|
|
Theodore Wahl |
|
|
|
Matthew J. McKee |
Chairman |
|
|
|
President and Chief
Executive Officer |
|
|
|
Senior Vice President
of Strategy |
|
|
|
|
|
|
|
|
|
215-639-4274 |
|
|
|
|
|
|
|
|
investor-relations@hcsgcorp.com |
Healthcare Services (NASDAQ:HCSG)
Historical Stock Chart
From May 2024 to Jun 2024
Healthcare Services (NASDAQ:HCSG)
Historical Stock Chart
From Jun 2023 to Jun 2024