BGSF Inc. (NYSE: BGSF) shares rose as the company announced a special cash dividend of $2.00 per share, payable on Sept. 30 to shareholders of record as of Sept. 23. The dividend follows the sale of its Professional Division, aiming to return value to investors.

Interim Co-CEOs Kelly Brown and Keith Schroeder deemed the dividend the “most prudent step” to enhance shareholder value while maintaining liquidity for future opportunities.

BGSF recently completed the $99 million sale of its Professional Division to INSPYR Solutions, using the proceeds to pay down debt and invest in its property management business.

The company plans to expand geographically, strengthen specialized property management services, and focus on core strengths for long-term value creation, following the divestiture.

The SPDR S&P 600 Small Cap ETF (NYSE: SLY) and the iShares Russell 2000 ETF (NYSE: IWM) are relevant ETFs tied to BGSF’s recent news.

BGSF shares were trading 14.37% higher at $7.320 at last check on Friday.

Read more at Yahoo Finance: BGSF Returns Value To Investors With $2 Special Dividend