Leading member-based advisory company, Corporate Executive Board (CEB), recently declared a cash dividend of 22.5 cents per share for the second quarter of 2013. The dividend will be payable on Jun 28, 2013 to shareholders as on record date of Jun 14. Based on the closing price of $57.97 as on May 13, the dividend payout affirms a modest yield of 1.6%.
Corporate Executive Board has been regularly paying quarterly dividends since 2004. The company had earlier increased its quarterly dividend by 28.6% from 17.5 cents to 22.5 cents per share in Mar 2013. Prior to that, the company had raised its quarterly dividend payout in Mar 2012 from 15 cents to 17.5 cents per share.
Corporate Executive Board plans to fund its dividend payments through cash on hand and cash generated through operations. The company had cash and cash equivalents worth $141.1 million as on Mar 31, 2013. During the last reported quarter, Corporate Executive Board used $7.5 million towards dividend payments.
In addition to steady quarterly dividends, Corporate Executive Board returns significant cash to shareholders through its share repurchase program. In Feb 2013, the company’s Board of Directors approved a $50 million stock repurchase program, which can be authorized till Dec 31, 2014.
Headquartered in London, Corporate Executive Board uses advanced research methodologies and human capital analytics to provide solutions for senior leaders to enable them to transform operations. It has its network spread all over the world from Africa to Asia.
Corporate Executive Board currently carries a Zacks Rank #3 (Hold). We believe that regular dividend payouts and share repurchases by managements will help boost investor confidence.
Some other stocks within the consulting industry worth mentioning are Information Services Group, Inc. (III), carrying a Zacks Rank #1 (Strong Buy), Exponent Inc. (EXPO) and Huron Consulting Group Inc. (HURN), each carrying a Zacks Rank #2 (Buy).
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