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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 20, 2007
HEIDRICK & STRUGGLES INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in its Charter)
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Delaware 0-25837 36-2681268
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
233 South Wacker Drive, Suite 4200, Chicago, IL 60606-6303
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 496-1200
N/A
(Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
/ / Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
/ / Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
/ / Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
/ / Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS.
On September 20, 2007, Heidrick & Struggles International, Inc.
issued a press release announcing the initiation by its Board of
Directors of a quarterly cash dividend. A copy of the press release
is attached as Exhibit 99.1 to this report and is incorporated herein
by reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits:
Exhibit Number Description
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99.1 Company Press Release dated September 20,
2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: September 20, 2007
HEIDRICK & STRUGGLES INTERNATIONAL, INC.
By: /s/ K. Steven Blake
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K. Steven Blake, Executive Vice President,
General Counsel and Secretary
EXHIBIT 99.1
HEIDRICK & STRUGGLES [Logo]
NEWS FOR IMMEDIATE RELEASE
HEIDRICK & STRUGGLES INITIATES QUARTERLY CASH DIVIDEND FOR
SHAREHOLDERS
CHICAGO (September 20, 2007) - Heidrick & Struggles International,
Inc. (NASDAQ: HSII), the world's premier executive search and
leadership consulting firm, today announced that its board of
directors has approved the initiation of a quarterly cash dividend in
the amount of $0.13 per share. On an annual basis, the cash dividend
is expected to be $0.52 per share. The first quarterly dividend
payment will be made on November 16, 2007 to shareholders of record as
of November 2, 2007. There are approximately 18.1 million HSII shares
outstanding, net of treasury shares.
Kevin Kelly, chief executive officer of Heidrick & Struggles, said,
"Given our positive outlook for the executive recruiting industry in
general, and for our company's growth prospects in particular, we are
pleased to initiate this cash dividend for our shareholders. We are
confident we can initiate a quarterly dividend while we continue our
share repurchase program, invest in the growth of our business, and
make accretive acquisitions. We are committed to long-term value
creation and believe that this quarterly dividend further demonstrates
the ongoing strength and stability of Heidrick & Struggles."
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier
provider of senior-level executive search and leadership consulting
services, including talent management, board building, executive
on-boarding and M&A effectiveness. For more than 50 years, we have
focused on quality service and built strong leadership teams through
our relationships with clients and individuals worldwide. Today,
Heidrick & Struggles leadership experts operate from principal
business centers in North America, Latin America, Europe and Asia
Pacific. For more information about Heidrick & Struggles, please
visit www.heidrick.com.
Safe Harbor Statement
This press release contains forward-looking statements. The
forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industry in which we
operate and management's beliefs and assumptions. Forward-looking
statements may be identified by the use of words such as "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "estimates,"
"projects," "forecasts," and similar expressions. Forward-looking
statements are not guarantees of future performance and involve
certain known and unknown risks, uncertainties and assumptions that
are difficult to predict. Actual outcomes and results may differ
materially from what is expressed, forecasted or implied in the
forward-looking statements. Factors that may affect the outcome of the
forward-looking statements include, among other things: our ability to
attract and retain qualified executive search consultants; the
condition of the economies in the United States, Europe, or elsewhere;
social or political instability in markets where we operate; the
impact of foreign currency exchange rate fluctuations; price
competition; the ability to forecast, on a quarterly basis, variable
compensation accruals that ultimately are determined based on the
achievement of annual results; delays or difficulties in integrating
the Highland Partners search operations; an inability to achieve the
planned cost savings from our cost-reduction initiatives; an inability
to sublease or assign unused office space; our ability to realize our
tax loss carryforwards; the timing of any deferred tax asset valuation
allowance reversals; the mix of profit and loss by country; an
impairment of our goodwill and other intangible assets; and delays in
the development and/or implementation of new technology and systems.
Our reports filed with the U.S. Securities and Exchange Commission
also include information on factors that may affect the outcome of
forward-looking statements. We undertake no obligation to update
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
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Contacts
Investors & Analysts:
Julie Creed, VP, Investor Relations: +1 312 496 1774 or
jcreed@heidrick.com
Media:
Eric Sodorff, Director, Corporate Communications: +1 312 496 1613 or
esodorff@heidrick.com