TTEC Holdings, Inc. Sells Real Estate Asset, Suspends Dividend

TTEC Holdings, Inc. (NASDAQ: TTEC) announced today that the company has entered into a definitive agreement to sell a real estate asset located at 9197 S. Peoria Street, Englewood, Colorado 80112, known as the Englewood Building. The sale, which closed on November 5, 2024, involved the transaction with Catholic Health Initiatives Colorado for a sum of $45,500,000, subject to certain customary adjustments, payable at closing. The Englewood Building previously served as TTEC’s principal executive offices but was no longer utilized in business operations. The proceeds from this sale are intended to be used to reduce the company’s outstanding balance under its revolving line of credit.

In a related event, the Company’s Board of Directors made a decision to suspend TTEC’s semi-annual cash dividend on November 4, 2024. This move is part of the company’s strategic shift towards debt reduction associated with recent acquisitions and investments in business operations. The decision to suspend dividends will be revisited in the future based on a thorough review of the company’s financial position and other relevant factors.

As a result of the sale of the Englewood Building, TTEC also announced plans to relocate its principal executive offices from Colorado to Texas, USA. This relocation is expected to be effective from January 1, 2025. The Denver Center for Experience and Innovation, currently serving as the company’s temporary principal executive offices, will remain at its Greenwood Village, Colorado location. TTEC has reassured that despite the relocation of its principal offices, it will continue its business operations in Colorado, where it has had a presence since 1992.

This information was disclosed in a Form 8-K filing with the Securities and Exchange Commission on November 5, 2024, signed by Margaret B. McLean, General Counsel, and Chief Risk Officer of TTEC Holdings, Inc.

Please note that the Article presents accurate information as per the 8-K SEC Filing by TTEC (NASDAQ: TTEC) on November 5, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read TTEC’s 8K filing here.

About TTEC

TTEC Holdings, Inc operates as a customer experience (CX) company that designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels. It operates through two segments, TTEC Digital and TTEC Engage. The TTEC Digital segment provides CX technologies for contact center as a service, customer relationship management, and artificial intelligence (AI) and analytics; creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies; creates proprietary IP to support industry specific and custom client needs; and offers CX consulting services.