MILWAUKEE - ManpowerGroup (NYSE: NYSE:MAN), a global leader in workforce solutions, has announced a semi-annual dividend payout to its shareholders. The company's Board of Directors declared a dividend of $1.54 per share, which is scheduled to be paid on December 16, 2024. To be eligible for the dividend, shareholders must be on record by the close of business on December 2, 2024.
This dividend declaration follows ManpowerGroup's tradition of distributing earnings to its shareholders and reflects the company's financial health and commitment to returning value to its investors. ManpowerGroup has a history of providing innovative workforce solutions to organizations around the world. By sourcing, assessing, developing, and managing talent, the company supports businesses in adapting to the evolving work landscape.
ManpowerGroup's family of brands, including Manpower, Experis, and Talent Solutions, operates across more than 70 countries and territories. The company has been acknowledged for its commitment to diversity and inclusion, having been named one of the World's Most Ethical Companies in 2024 for the 15th time.
Investors and interested parties can find additional financial details about ManpowerGroup, such as stock history and annual shareholder reports, on the company's investor relations website. The announcement of the dividend is based on a press release statement from ManpowerGroup.
In other recent news, Manpower Inc . reported a 2% decline in third-quarter revenue, totaling $4.5 billion, and an 8% year-over-year decrease in adjusted earnings per share, falling to $1.29. Despite these figures, Manpower's Talent Solutions revenue saw a 7% rise, primarily driven by a 9% revenue increase in Japan.
Following these developments, BMO Capital Markets, Goldman Sachs, Jefferies, and Truist Securities have all adjusted their outlooks on the company. BMO Capital Markets reduced the price target on Manpower shares to $71.00, while Goldman Sachs maintained a Sell rating with a steady price target of $64.00. Jefferies lowered the company's price target from $70.00 to $65.00, and Truist Securities revised its price target from $78 to $74.
These revisions were influenced by Manpower's fourth-quarter revenue and earnings per share guidance, which fell short of both firms' and consensus estimates, revealing noticeable weakness in Northern Europe. Truist Securities anticipates Manpower to experience approximately flat EBITDA growth in 2025, with a more robust growth of around 30% in EBITDA projected for 2026, despite potential financial challenges due to a higher tax rate in France.
These recent developments reflect the market's cautious stance on Manpower, given the current phase of the economic cycle.
InvestingPro Insights
ManpowerGroup's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company currently offers a dividend yield of 4.72%, which is particularly attractive in the current market environment. This yield is supported by ManpowerGroup's commitment to dividend growth, with the company having raised its dividend for 13 consecutive years, as highlighted by an InvestingPro Tip.
The company's financial stability is further underscored by its profitability over the last twelve months, with a revenue of $18.08 billion. Despite facing some challenges, as evidenced by a 5.28% revenue decline in the last twelve months, ManpowerGroup maintains a strong market position with a market capitalization of $3.06 billion.
An InvestingPro Tip notes that management has been aggressively buying back shares, which, combined with the dividend payments, contributes to a high shareholder yield. This strategy demonstrates the company's confidence in its long-term prospects and commitment to delivering value to shareholders.
For investors seeking more comprehensive analysis, InvestingPro offers 12 additional tips for ManpowerGroup, providing deeper insights into the company's financial health and market position.
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