CRA International Inc., also known as Charles River Associates, has recently announced an increase in its quarterly dividend by 16.7%. Shareholders will now receive 42 cents per share, up from the previous 36 cents per share. The dividend payment will be made on December 8th to shareholders of record as of November 28th.
With this new dividend rate, the annual dividend yield stands at 1.73%, surpassing the implied yield for the S&P 500, which is currently at 1.65%. This increase reflects CRA’s commitment to providing value to shareholders.
However, the company reported disappointing results for the third quarter. Adjusted earnings per share were $1.13, a decrease from $1.45 in the same period last year and below the FactSet consensus of $1.39. Revenue also declined by 0.6% to $147.6 million, missing the FactSet consensus of $158.3 million.
According to Chief Executive Paul Maleh, the third quarter was marked by an unexpected slowdown in new project originations, combined with higher than expected headcount. This led to a departure from CRA’s usual trend of delivering revenue and profit expansion.
Despite these challenges, CRA International remains committed to exploring new opportunities and delivering long-term growth for its shareholders.
Key Details:
- Quarterly dividend increased by 16.7% to 42 cents per share
- Dividend payment on December 8th to shareholders of record as of November 28th
- Annual dividend yield now at 1.73%, exceeding the S&P 500’s implied yield of 1.65%
- Third-quarter adjusted earnings per share of $1.13, lower than last year’s $1.45 and below the FactSet consensus of $1.39
- Revenue declined by 0.6% to $147.6 million, missing the FactSet consensus of $158.3 million
CRA International’s stock has faced challenges in recent months, with a 5.3% decline over the past three months, while the S&P 500 has lost 6.1%.
As CRA International moves forward, it remains focused on addressing these setbacks and striving for improved performance.
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