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BGSF, Inc. Initiates Strategic Review Process and Suspends Quarterly Dividend

BGSF, Inc. Initiates Strategic Review Process and Suspends Quarterly Dividend
BGSF, Inc. Announces Review of Strategic Alternatives and Suspension of Quarterly Cash Dividend

BGSF, Inc., a leading provider of consulting, managed services, and workforce solutions, embarks on a strategic review process to explore potential alternatives aimed at maximizing shareholder value. Concurrently, the company suspends its quarterly cash dividend until the completion of this review.

Key Highlights:

  • Strategic Evaluation: The Board of Directors has initiated a thorough assessment of strategic alternatives to optimize shareholder value.
  • Financial Advisors: BGSF has engaged Houlihan Lokey as its financial advisors to facilitate the strategic review process.
  • Dividend Suspension: In light of the ongoing strategic review, the company suspends its quarterly cash dividend until further notice.

Statement from CEO: Beth Garvey, Chair, President, and CEO of BGSF, emphasizes the rationale behind the strategic review and dividend suspension, citing the persistent challenges in the public market valuation. Garvey underscores the company’s commitment to exploring avenues for maximizing shareholder value amidst evolving market dynamics.

About BGSF: BGSF provides consulting, managed services, and workforce solutions across various industries, including IT, Finance & Accounting, Managed Solutions, and Property Management. Leveraging a disciplined acquisition philosophy, the company aims to achieve scalable growth while retaining top talent and fostering exceptional service delivery.

Forward-Looking Statements: The press release includes forward-looking statements under the safe harbor provisions, reflecting the company’s expectations and objectives. However, actual results may vary due to various risks and uncertainties, including market volatility and the outcome of the strategic review process.

BGSF, Inc. embarks on a strategic review journey with the objective of enhancing shareholder value. The company’s decision to suspend its dividend underscores its commitment to prudent financial management and value creation. Stay tuned for further updates on the strategic review process and its potential outcomes.