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Company CEO Michael C. Yerington said, "By conserving capital, enhancing liquidity and strengthening our balance sheet, the suspension of our dividend will provide us with additional resources to devote to our plans to improve our performance, including the development of an online presence and the expansion of our retail distribution base."
In a statement, Jackson Hewitt's board said it would consider reinstating a common stock dividend "when the company's balance sheet and overall financial strength have improved."
Parsippany, new Jersey-based Jackson Hewitt Tax Service provides individual federal and state income tax return preparation through 6,600 franchised and company-owned offices throughout the United States.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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