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United States

Providence Service Corp (PRSC.O)

PRSC.O on Nasdaq

49.02USD
22 Jul 2016
Change (% chg)

$0.17 (+0.35%)
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Latest Key Developments (Source: Significant Developments)

Providence Service Corp announces share repurchase program
Monday, 9 Nov 2015 04:40pm EST 

Providence Service Corp:Board of Directors has approved a new stock repurchase program for up to $70.0 million of its common stock over the next 12 months.  Full Article

Providence Service Corp completes sale of Providence Human Services and Providence Community Services
Monday, 2 Nov 2015 08:30am EST 

Providence Service Corp:Completes its definitive agreement to sell all the outstanding ownership interests of Providence Human Services, LLC (PHS) and Providence Community Services, LLC (PCS), both wholly owned subsidiaries of The Providence Service Corporation, to Molina Healthcare, Inc.  Full Article

Providence Service Corporation named David Shackelton as the Co's CFO
Thursday, 1 Oct 2015 04:05pm EDT 

Providence Service Corporation:Named David Shackelton as the Company's new Chief Financial Officer, effective immediately.Shackelton has served as Interim Chief Financial Officer since August 2015 and succeeds James M. Lindstrom in this position.  Full Article

Providence Service Corporation declared a cash dividend on its 5.5%/8.5% Series A convertible preferred stock
Thursday, 3 Sep 2015 04:05pm EDT 

Providence Service Corporation:Declared a cash dividend on its 5.5%/8.5% Series A convertible preferred stock.Payable on October 1, 2015 to holders of record on September 15, 2015.The dividend will be paid at a rate of 5.5% per annum, which is equal to approximately $1.38630 per share of convertible preferred stock.  Full Article

Molina Healthcare Inc to Acquire Providence Service Corp's Providence Human Services and Providence Community Services
Thursday, 3 Sep 2015 09:04am EDT 

Molina Healthcare Inc and Providence Service Corp:Parties have entered into definitive agreement whereby Molina Healthcare will acquire all outstanding ownership interests of Providence Human Services, LLC (PHS) and Providence Community Services, LLC (PCS), both wholly owned subsidiaries of The Providence Service Corporation.Under terms of the acquisition agreement, Molina will pay Providence Service Corporation about $200 million upon closing of transaction.Molina intends to fund the transaction with available cash on its balance sheet.transaction is expected to close during fourth quarter of 2015, subject to regulatory approvals and the satisfaction of other closing conditions.Providence intends to use 50% of net cash proceeds from the transaction to prepay certain loans under its existing credit facility.Molina Healthcare's financial advisor is UBS Investment Bank and its legal advisor is Sheppard Mullin Richter & Hampton LLP.Providence Service Corporation's financial advisor is Moelis & Company LLC and its legal advisor is Paul Hastings LLP.  Full Article

Providence Service Corp appoints James M. Lindstrom as Chief Executive Officer
Thursday, 6 Aug 2015 04:39pm EDT 

Providence Service Corp:Appointed James M. Lindstrom as President and Chief Executive Officer and a member of the Board of Directors, effective immediately.  Full Article

Providence Service Corp declares cash dividend
Thursday, 4 Jun 2015 04:05pm EDT 

Providence Service Corp:Declares cash dividend on 5.5 pct /8.5 pct Series A convertible preferred stock.Payable on July 1, to holders of record as of June 15.  Full Article

Providence Service Corporation announces CEO transition plan
Monday, 11 May 2015 05:00pm EDT 

Providence Service Corporation:Says Chief Executive Officer Warren Rustand has informed the Providence Board of Directors that he will be stepping down from his role as the CEO and as a Board Director.Providence's Chairman, Chris Shackelton, will assume the CEO role on an interim basis until a replacement is named.Says a transition of Rustand's responsibilities as CEO has commenced, with a formal title change anticipated to occur on June 1.Says Providence Board has engaged Heidrick & Struggles International, Inc. to conduct a broad and comprehensive search for a full time CEO replacement.Says search is expected to be completed over the next few months.Rustand has agreed to remain with the Company as a Senior Advisor for the remainder of 2015.  Full Article

Providence Service Corporation joint venture awarded 5-Year Employment Services Contract in Australia
Wednesday, 1 Apr 2015 04:10pm EDT 

Providence Service Corporation:Says the Australian Department of Employment has formally awarded the contracts for the delivery of Employment Services across Australia for the years 2015 to 2020.Mission Providence, a joint venture between Providence Service Corporation and Mission Australia, has been awarded a contract to deliver employment services in 8 regions across Australia with 55 full time sites and 12 outreach sites.Mission Providence has also been awarded contracts to deliver the New Employment Incentive Scheme across 20 regions as well as Work For the Dole in a further 6 Regions.No further details are available at this time.  Full Article

Providence Service Corp declares dividend on convertible preferred stock
Thursday, 26 Feb 2015 08:30am EST 

Providence Service Corp:Declares cash dividend on its 5.5 pct/8.5 pct Series A convertible preferred stock.Payable on April 1, of record as of on March 15.Dividend will be paid at a rate of 5.5 pct per annum, which is equal to about $0.73836 per share of convertible preferred stock.  Full Article

BRIEF-Providence Service appoints members to board

* Addition of Carter, Coulter and Wright to providence board of directors increases number of directors to eight