S&P: Manpower unaffected

Standard & Poor's said Monday that Manpower Inc.'s (BBB-/stable/--) announcement of a 5 million share repurchase authorization and an increase in the semi-annual dividend to 20 cents from 10 cents per share does not affect the current ratings or outlook on the company.

Debt service measures are still expected to remain appropriate for the rating due to improving operating performance, S&P said. Lease-adjusted debt to EBITDA for the 12 months ended Sept. 30, 2004 improved to about 2.5x from slightly over 3.0x in 2002-2003.

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