BBSI Declares Four-for-One Stock Split
Rhea-AI Summary
Barrett Business Services (BBSI) has announced a four-for-one stock split. Shareholders will receive three additional shares for each share they hold as of June 14, 2024. The new shares will be distributed on June 21, 2024, and trading will resume on a split-adjusted basis on June 24, 2024. This move is intended to improve trading efficiency and broaden investor accessibility. Post-split, BBSI will have approximately 26 million shares outstanding, up from 6,507,409 shares as of May 31, 2024. Second-quarter 2024 earnings per share will be reported on a split-adjusted basis.
Positive
- BBSI will have approximately 26 million shares outstanding after the split, increasing from 6,507,409 shares.
- The stock split aims to improve trading efficiency and make stock ownership more accessible.
- Shareholders will receive three additional shares for each share they hold as of June 14, 2024.
Negative
- Earnings per share for the second quarter of 2024 will be split-adjusted, which may affect perceived earnings growth.
News Market Reaction
On the day this news was published, BBSI declined 2.27%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, Wash., June 04, 2024 (GLOBE NEWSWIRE) -- Barrett Business Services, Inc. (“BBSI” or the “Company”) (NASDAQ: BBSI), a leading provider of business management solutions, today announced that its board of directors has declared a four-for-one split of the Company’s common stock in the form of a stock dividend.
Each stockholder of record on June 14, 2024, will receive a dividend of three additional shares of common stock for each share they hold, to be distributed on June 21, 2024. Trading will resume on a stock split-adjusted basis on June 24, 2024.
The stock split is expected to improve the overall trading efficiency of BBSI’s stock and make stock ownership more accessible to a broader range of investors.
As of May 31, 2024, BBSI had 6,507,409 shares of common stock outstanding. Following the stock split, BBSI will have approximately 26.0 million shares of common stock outstanding. Earnings per share for the second quarter of 2024 will be reported on a split-adjusted basis.
About BBSI
BBSI (NASDAQ: BBSI) is a leading provider of business management solutions, combining human resource outsourcing and professional management consulting to create a unique operational platform that differentiates it from competitors. The Company’s integrated platform is built upon expertise in payroll processing, employee benefits, workers’ compensation coverage, risk management and workplace safety programs, and human resource administration. BBSI’s partnerships help businesses of all sizes improve the efficiency of their operations. The company works with more than 7,500 clients across all lines of business and is licensed to operate in all 50 states. For more information, please visit www.bbsi.com.
Investor Relations:
Gateway Group, Inc.
Cody Slach
Tel 1-949-574-3860
BBSI@gateway-grp.com
FAQ
What is the effective date for BBSI's four-for-one stock split?
How many additional shares will BBSI shareholders receive?
When will BBSI start trading on a split-adjusted basis?
How many shares of common stock will BBSI have outstanding after the split?
Why is BBSI performing a stock split?
Will BBSI's earnings per share be affected by the stock split?
