The Board of Booz Allen Hamilton approved a $6.50 per share special dividend. The $1 billion dividend is financed via $2.25 billion in various loans/credit agreements, i.e. a PEU "liquidity recapitalization."
Flat revenue was due to a decrease in billable expenses and a lower rate of indirect expenses, reducing revenue under cost reimbursable contracts, it said.
How much will rising interest expenses bring under "cost reimbursable contracts," which I imagine are mostly with Uncle Sam? PEU's hate to pay taxes, but love paying tax deductible and cost reimbursable interest. It's the state of PEU's, beloved by Red and Blue.