KELLY SERVICES INC
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
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Item 5. Market Information and Dividends
Our Class A and Class B common stock is traded on the NASDAQ Global Market under the symbols “KELYA” and “KELYB,” respectively. The high and low selling prices for our Class A common stock and Class B common stock as quoted by the NASDAQ Global Market and the dividends paid on the common stock for each quarterly period in the last two fiscal years are reported in the table below. Our ability to pay dividends is subject to compliance with certain financial covenants contained in our debt facilities, as described in the Debt footnote in the notes to our consolidated financial statements.
| Per share amounts (in dollars) | |||||
|---|---|---|---|---|---|
| FirstQuarter | SecondQuarter | ThirdQuarter | FourthQuarter | Year | |
| Class A common | |||||
| High | $19.01 | $19.43 | $19.29 | $22.11 | $22.11 |
| Low | 15.23 | 15.53 | 16.80 | 17.40 | 15.23 |
| Class B common | |||||
| High | 18.62 | 18.36 | 18.95 | 21.65 | 21.65 |
| Low | 15.28 | 14.86 | 17.23 | 18.17 | 14.86 |
| Dividends | 0.075 | 0.075 | 0.075 | 0.075 | 0.30 |
| Class A common | |||||
| High | $23.00 | $21.69 | $22.56 | $18.78 | $23.00 |
| Low | 16.22 | 16.73 | 13.41 | 13.64 | 13.41 |
| Class B common | |||||
| High | 22.30 | 21.77 | 26.64 | 18.63 | 26.64 |
| Low | 16.74 | 17.01 | 13.64 | 14.04 | 13.64 |
| Dividends | 0.05 | 0.075 | 0.075 | 0.075 | 0.275 |
Holders
The number of holders of record of our Class A and Class B common stock were approximately 9,600 and 600, respectively, as of February 1, 2024.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
During the fourth quarter of 2023, we reacquired shares of our Class A common stock as follows:
| Period | Total Numberof Shares(or Units)Purchased | AveragePrice Paidper Share(or Unit) | Total Numberof Shares (orUnits) Purchasedas Part of PubliclyAnnounced Plansor Programs | Maximum Number(or ApproximateDollar Value) ofShares (or Units)That May Yet BePurchased Under thePlans or Programs |
|---|---|---|---|---|
| (in millions of dollars) | ||||
| October 2, 2023 through November 5, 2023 | 779 | $18.35 | — | $— |
| November 6, 2023 through December 3, 2023 | 323 | 20.38 | — | — |
| December 4, 2023 through December 31, 2023 | 2,046 | 20.99 | — | — |
| Total | 3,148 | $20.27 | — | |
We may reacquire shares sold to cover employee tax withholdings due upon the vesting of restricted stock held by employees. Accordingly, 3,148 shares were reacquired during the Company’s fourth quarter.
Performance Graph
The following graph compares the cumulative total return of our Class A common stock with that of the S&P SmallCap 600 Index and the S&P 1500 Human Resources and Employment Services Index for the five years ended December 31, 2023. The graph assumes an investment of $100 on December 31, 2018 and that all dividends were reinvested.
COMPARISON OF FIVE YEAR CUMULATIVE TOTAL RETURN
Assumes Initial Investment of $100
December 31, 2018 – December 31, 2023
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Kelly Services, Inc. | $100.00 | $111.63 | $102.08 | $83.66 | $85.56 | $111.23 |
| S&P SmallCap 600 Index | $100.00 | $122.78 | $136.64 | $173.29 | $145.39 | $168.73 |
| S&P 1500 Human Resources and Employment Services Index | $100.00 | $122.79 | $123.83 | $187.16 | $139.81 | $148.84 |
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