Staffing 360 to initiate payment of a dividend, starting February

Staffing 360 Solutions Inc. STAF, +0.86% said Wednesday it will initiate the payment of a dividend, starting next month. The buyer of staffing organization’s stock rallied 2.1% in premarket trade. The new quarterly dividend of a penny a share, will be payable Feb. 28 to shareholder’s of record on Feb. 15. Based on Tuesday’s stock closing price of $2.35, the annual dividend rate implies a dividend yield of 1.70%, compared with the implied yield for the S&P 500 SPX, -0.15% of 2.12%, according to FactSet. Staffing 360’s stock has soared 37% over the past three months, but was still down 33% over the past 12 months, while the S&P 500 SPX, -0.15% has lost 1.6% the past three months and declined 6.5% the past year.

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