ZURICH, March 1 (Reuters) - Shares in Adecco jump 6.2 percent, outperforming a flat sector index , after the world’s biggest staffing firm sweetens its better-than-expected results with a hefty hike in its dividend.
“Overall results were a positive surprise,” says Vontobel analyst Michael Foeth, who has a buy rating on the stock.
“The board will propose a dividend of 1.80 Swiss francs per share and sustainably double the payout, resulting in a yield of 4-5 percent,” he says.
The market was expecting a stable dividend at best from last year’s 1.10 Swiss franc payout, one trader says.
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