The global fight against the novel coronavirus (COVID-19) has triggered an unprecedented impact on economic activity in the markets we are operating in. As it is impossible at this time to predict the length and depth of the situation, capital preservation is one of our key priorities. Therefore, as a precautionary measure, Randstad has decided to remove its 2019 ordinary and special cash dividend proposals from the agenda of the Annual General Meeting of shareholders to be held tomorrow, 24 March 2020.
Randstad remains fully committed to its capital allocation policy. Prudence is warranted given the serious adverse economic conditions seen globally that have had an immediate impact on our business and the lack of visibility in these unprecedented times. “We want to ensure Randstad has the flexibility to react to changes in market conditions and guarantee the stability of the business,” said Wout Dekker, Chair of the Supervisory Board, “and fully support the leadership demonstrated by the Executive Board in these challenging times.”
Jacques van den Broek, CEO Randstad: “We are taking this decision as a precautionary measure. In the current environment with insufficient visibility, capital preservation is a key priority. The removal of our dividend proposal is the prudent measure to do as we balance the needs of stakeholders, including candidates, clients, employees, investors and others. As always, Randstad’s first priority is the health and safety of our employees, candidates, clients, and the communities in which we operate, I would also like to take this opportunity to thank my Randstad colleagues for their incredible commitment and dedication with which they are responding to these difficult times. As we speak, all our colleagues around the world are in remote daily contact with their clients and candidates.”
Therefore, Randstad has decided to cancel the agenda items 2f (proposal to determine a regular dividend) and 2g (proposal to determine a special dividend) and to remove them from the agenda of tomorrow’s Annual General Meeting of Shareholders.
Randstad can rely on its 60-year track record as a company with high operational flexibility. Responding quickly and effectively to market fluctuations, however volatile and severe, is something we are used to. It is in our DNA and shows our strength and agility as a company.
analyst conference call
Today (23 March 2020), at 11.00 am CET, Randstad N.V. will be hosting an analyst conference call. The dial-in numbers are:
- international: +44 20 3365 3209
- Netherlands: +31 20 341 8243
for both numbers the access code is: 493105#
for more information
David Tailleur - Director Investor Relations
david.tailleur@randstad.com or +31 6 1246 2133
Steven Vriesendorp - Investor Relations Officer
steven.vriesendorp@randstad.com or +31 6 2692 8529
Karl Hanuska - Media Relations Manager a.i.
karl.hanuska@randstad.com or +31 6 2011 1967
about Randstad
Randstad is the global leader in the HR services industry. We support people and organizations in realizing their true potential by combining the power of today’s technology with our passion for people. We call it Human Forward. In 2019, we helped more than two million candidates find a meaningful job with our 280,000 clients. Furthermore, we trained more than 350,000 people. Randstad is active in 38 markets around the world and has top-three positions in almost half of these. In 2019, Randstad had on average 38,280 corporate employees and generated revenue of € 23.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad N.V. is listed on the NYSE Euronext (symbol: RAND.AS). For more information, see www.randstad.com
