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The Caldwell Partners

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uuid0005vwc

Namestring
The Caldwell Partners
Legal namestring
The Caldwell Partners International Inc.
Company typeenum
Public
Founded yearint
1973
Descriptiontext

The Caldwell Partners International Inc. is a publicly traded (TSX: CWL; OTCMKTS: CWLPF) executive search and leadership advisory firm founded in 1973 and headquartered in Toronto, Canada. The firm places senior-level executives and board directors for client organizations through retained-search engagements, with fees structured as professional services income typically pegged to placed-executive compensation. Its product platform comprises four core offerings: Executive & Board Search, Professional Level Search (branded IQTalent), Organizational Effectiveness, and Research & Sourcing. Services are organized along two intersecting axes — 11 industry verticals (Financial Services, Technology, Life Sciences & Healthcare, Industrial, PE/VC, Professional Services, Consumer, Insurance, Academic Healthcare, Academic/Non-Profit/Culture, Sports & Entertainment) and 10 functional role practices (Board & CEO, Data/Digital/Technology, Financial, HR, Cyber Security, Marketing, IR/Communications, Compliance/Risk/Regulatory, Legal, Supply Chain & Operations).

The firm operates 22 offices across Canada (Toronto headquarters plus Calgary and Vancouver), 14 US cities (Atlanta, Boston, Charleston, Chicago, Dallas, Houston, Los Angeles, Miami, Nashville, New York, Philadelphia, Richmond, San Francisco, Stamford), Europe (London, Madrid), Asia Pacific (Sydney, Auckland under the Johnson Partners brand), and the Middle East (Dubai). It employs between 51 and 100 people and reported Q2 fiscal 2026 revenue of C$27.3 million with a return to operating profitability of $771,000 versus a $649,000 loss in the prior-year quarter. Revenue is generated almost entirely from professional fees on search engagements; pricing is not publicly disclosed. The go-to-market motion is enterprise field sales, with consultants organized by industry and function engaging directly with corporate and mid-market clients.

Caldwell has pursued growth through tuck-in acquisitions, including Hawksmoor Search (2014, establishing UK presence), IQ Talent Partners (2020, expanding into professional-level search), and The Counsel Network (2022, adding Canadian legal recruitment). The company also operates branded award programs — Canada's Top 40 Under 40 and Canada's Outstanding CEO of the Year — that double as marketing assets feeding candidate pipelines. In November 2025, Caldwell participated as a minority investor in HelloSky's $5.5 million seed round (an AI-powered talent sourcing platform), reflecting exploratory interest in external AI tooling rather than internal build-out. In May 2026 the TSX approved a normal course issuer bid permitting repurchase of up to 10% of public float over the following year, alongside a quarterly dividend of C$0.01 per share.

Short descriptiontext

The Caldwell Partners is a Toronto-headquartered, publicly-traded (TSX: CWL) executive search and leadership advisory firm, founded 1973, with 22 offices globally placing senior executives and board directors across 11 industry verticals and 10 functional roles.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersToronto, Canada
HQ citystring
Toronto
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Offices22 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
executive search services, executive recruiting, leadership advisory, board director placement, senior talent acquisition
Industry1 code
1Strategy & Corporate Development Consulting
CodeBPAHACAAPrimaryYes
NAICS code1 code
  • Executive Search Services561312
SIC code1 code
  • Services-Management Consulting Services8742
Product category
Executive Search Services
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Executive Search Professional Fees
TypeProfessional Services
Description

Caldwell generates professional fees primarily from retained executive search engagements, placing senior-level executives and board directors with clients across various industries. The firm reported consolidated professional fees of $27.1 million in Q2 fiscal 2026, with revenue rising to C$27.3 million.

stocktitan.net
Marketing channels3 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure
Pricing details1 tier
1Retained executive search engagements
ModelOtherBilling cadenceMulti-year contract
Notes

Pricing not publicly disclosed; Caldwell operates on a retained-search model typical in the executive search industry, with fees generally structured as a percentage of the placed executive's total compensation.

caldwell.com
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

The Caldwell Partners is a publicly traded executive search and leadership advisory firm that places senior-level executives and board directors with client organizations across multiple industries and geographies. Its core offerings are retained executive and board search engagements, supported by professional-level search (IQTalent), organizational effectiveness assessment, and dedicated research and sourcing capabilities. Services are delivered through industry- and function-specialized consultant teams operating from 22 offices globally.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

The Caldwell Partners operates as a unified executive search and leadership advisory platform with multiple interconnected service offerings. The core business is Executive & Board Search, which places senior executives and board directors. This is complemented by Professional Level Search (branded as IQTalent) for mid-management positions, along with Organizational Effectiveness and Research & Sourcing capabilities that support the core placement services. The company also runs proprietary award programs including Canada's Top 40 Under 40® and Canada's Outstanding CEO of the Year™. Services are organized by industry verticals (Technology, Financial Services, Life Sciences & Healthcare, Consumer, Industrial, Insurance, Private Equity & Venture Capital, Professional Services, Sports & Entertainment, Academic/Non-Profit, and Functional Roles including Board & CEO, Data/Digital/Technology, Financial, HR, Cyber Security, Marketing, Legal, and Supply Chain functions.

Product and service1 record
1Executive & Board Search
Scale indicator6 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Odgers Berndtson is a global executive search firm with offices across the Americas, Europe, and Asia Pacific. It is comparable to Caldwell in industry-specialized senior executive and board search.

TypeDirect peer
Description

Spencer Stuart is one of the world's largest privately-held executive search firms, focused on board, CEO, and senior-level recruiting across industries and geographies. It is the most direct functional competitor to Caldwell's executive and board search practice.

TypeDirect peer
Description

Heidrick & Struggles is a publicly-traded global executive search and leadership advisory firm with deep industry and functional practices, directly overlapping Caldwell's positioning across sectors like financial services, technology, and life sciences.

TypeDirect peer
Description

Egon Zehnder is a leading global executive search and leadership advisory firm with industry specializations and a strong board practice. It competes directly with Caldwell on C-suite and director-level mandates worldwide.

TypeDirect peer
Description

Russell Reynolds Associates is a top-tier global executive search firm focused on senior leadership and board director placement. Like Caldwell, it organizes consultants by industry and functional expertise and serves multinational clients.

TypeBroad incumbent
Description

Korn Ferry is a much larger publicly-traded organizational consulting firm whose Executive Search segment directly competes with Caldwell, while also offering adjacent HR consulting and RPO services. It competes with Caldwell for premium mandates but on a much broader scale.

TypeBroad incumbent
Description

Robert Half is a publicly-traded global staffing and talent solutions firm with a dedicated executive search practice (Protiviti-adjacent). It overlaps Caldwell's professional-level and mid-management search offerings through IQTalent.

TypeBroad incumbent
Description

Hays is a UK-listed global recruitment firm spanning professional and executive search. While skewed to mid-market/contract staffing, its executive and permanent search operations are thematically comparable to Caldwell's professional-level search.

TypeEmerging player
Description

DHR International was a mid-sized executive search firm specializing in senior leadership placement before its acquisition by Heidrick & Struggles. Pre-acquisition it was a closely-comparable mid-cap peer to Caldwell.

TypeOthers
Description

IQTalent Partners was a research and sourcing firm focused on candidate pipelining for executive search engagements; Caldwell acquired it in 2020 and now brands its professional-level search offering under this name, illustrating the supply-side ecosystem for search firms.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment11 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries1 record

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds3 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment2 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

The Caldwell Partners

Executive Search Servicescaldwellpartners.com

The Caldwell Partners is a Toronto-headquartered, publicly-traded (TSX: CWL) executive search and leadership advisory firm, founded 1973, with 22 offices globally placing senior executives and board directors across 11 industry verticals and 10 functional roles.

What The Caldwell Partners does

The Caldwell Partners International Inc. is a publicly traded (TSX: CWL; OTCMKTS: CWLPF) executive search and leadership advisory firm founded in 1973 and headquartered in Toronto, Canada. The firm places senior-level executives and board directors for client organizations through retained-search engagements, with fees structured as professional services income typically pegged to placed-executive compensation. Its product platform comprises four core offerings: Executive & Board Search, Professional Level Search (branded IQTalent), Organizational Effectiveness, and Research & Sourcing. Services are organized along two intersecting axes — 11 industry verticals (Financial Services, Technology, Life Sciences & Healthcare, Industrial, PE/VC, Professional Services, Consumer, Insurance, Academic Healthcare, Academic/Non-Profit/Culture, Sports & Entertainment) and 10 functional role practices (Board & CEO, Data/Digital/Technology, Financial, HR, Cyber Security, Marketing, IR/Communications, Compliance/Risk/Regulatory, Legal, Supply Chain & Operations).

The firm operates 22 offices across Canada (Toronto headquarters plus Calgary and Vancouver), 14 US cities (Atlanta, Boston, Charleston, Chicago, Dallas, Houston, Los Angeles, Miami, Nashville, New York, Philadelphia, Richmond, San Francisco, Stamford), Europe (London, Madrid), Asia Pacific (Sydney, Auckland under the Johnson Partners brand), and the Middle East (Dubai). It employs between 51 and 100 people and reported Q2 fiscal 2026 revenue of C$27.3 million with a return to operating profitability of $771,000 versus a $649,000 loss in the prior-year quarter. Revenue is generated almost entirely from professional fees on search engagements; pricing is not publicly disclosed. The go-to-market motion is enterprise field sales, with consultants organized by industry and function engaging directly with corporate and mid-market clients.

Caldwell has pursued growth through tuck-in acquisitions, including Hawksmoor Search (2014, establishing UK presence), IQ Talent Partners (2020, expanding into professional-level search), and The Counsel Network (2022, adding Canadian legal recruitment). The company also operates branded award programs — Canada's Top 40 Under 40 and Canada's Outstanding CEO of the Year — that double as marketing assets feeding candidate pipelines. In November 2025, Caldwell participated as a minority investor in HelloSky's $5.5 million seed round (an AI-powered talent sourcing platform), reflecting exploratory interest in external AI tooling rather than internal build-out. In May 2026 the TSX approved a normal course issuer bid permitting repurchase of up to 10% of public float over the following year, alongside a quarterly dividend of C$0.01 per share.

The Caldwell Partners firmographics

Firmographics
Name
The Caldwell Partners
Legal name
The Caldwell Partners International Inc.
Website
https://caldwellpartners.com
Company type
Public
Founded year
1973
Operating status
Operating
Headcount range
51–100 employees
Short description
The Caldwell Partners is a Toronto-headquartered, publicly-traded (TSX: CWL) executive search and leadership advisory firm, founded 1973, with 22 offices globally placing senior executives and board directors across 11 industry verticals and 10 functional roles.
Ownership category
akta.pro rank

The Caldwell Partners industry classification

Industry
Product category
Executive Search Services
NAICS
Executive Search Services (561312)
SIC
Services-Management Consulting Services (8742)
akta.pro primary industry
Strategy & Corporate Development Consulting (BPAHACAA)

Keywords

  • Executive search services
  • Executive recruiting
  • Leadership advisory
  • Board director placement
  • Senior talent acquisition

Where The Caldwell Partners is headquartered

Location

Headquarters

HQ city
Toronto
HQ country
Canada
HQ region
North America

Offices22 records

Markets served

The Caldwell Partners business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

  1. Executive Search Professional Fees: Caldwell generates professional fees primarily from retained executive search engagements, placing senior-level executives and board directors with clients across various industries. The firm reported consolidated professional fees of $27.1 million in Q2 fiscal 2026, with revenue rising to C$27.3 million.

Pricing tiers

ModelBillingPrice
OtherMulti-year contractRetained executive search engagements

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

The Caldwell Partners product offering

Product offering

Core offering

The Caldwell Partners is a publicly traded executive search and leadership advisory firm that places senior-level executives and board directors with client organizations across multiple industries and geographies. Its core offerings are retained executive and board search engagements, supported by professional-level search (IQTalent), organizational effectiveness assessment, and dedicated research and sourcing capabilities. Services are delivered through industry- and function-specialized consultant teams operating from 22 offices globally.

Product overview

The Caldwell Partners operates as a unified executive search and leadership advisory platform with multiple interconnected service offerings. The core business is Executive & Board Search, which places senior executives and board directors. This is complemented by Professional Level Search (branded as IQTalent) for mid-management positions, along with Organizational Effectiveness and Research & Sourcing capabilities that support the core placement services. The company also runs proprietary award programs including Canada's Top 40 Under 40® and Canada's Outstanding CEO of the Year™. Services are organized by industry verticals (Technology, Financial Services, Life Sciences & Healthcare, Consumer, Industrial, Insurance, Private Equity & Venture Capital, Professional Services, Sports & Entertainment, Academic/Non-Profit, and Functional Roles including Board & CEO, Data/Digital/Technology, Financial, HR, Cyber Security, Marketing, Legal, and Supply Chain functions.

Differentiator

Problem solved

Functional benefit

Products and services

  • Executive & Board Search

Companies that use The Caldwell Partners

Customer profile

Segments11 records

Ideal customer profiles1 record

The Caldwell Partners technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

The Caldwell Partners partnerships and signals

Strategic signal

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

The Caldwell Partners competitors and assessment

Company assessment

Direct peers

  • Odgers Berndtson: Odgers Berndtson is a global executive search firm with offices across the Americas, Europe, and Asia Pacific. It is comparable to Caldwell in industry-specialized senior executive and board search.
  • Spencer Stuart: Spencer Stuart is one of the world's largest privately-held executive search firms, focused on board, CEO, and senior-level recruiting across industries and geographies. It is the most direct functional competitor to Caldwell's executive and board search practice.
  • Heidrick & Struggles: Heidrick & Struggles is a publicly-traded global executive search and leadership advisory firm with deep industry and functional practices, directly overlapping Caldwell's positioning across sectors like financial services, technology, and life sciences.
  • Egon Zehnder: Egon Zehnder is a leading global executive search and leadership advisory firm with industry specializations and a strong board practice. It competes directly with Caldwell on C-suite and director-level mandates worldwide.
  • Russell Reynolds Associates: Russell Reynolds Associates is a top-tier global executive search firm focused on senior leadership and board director placement. Like Caldwell, it organizes consultants by industry and functional expertise and serves multinational clients.

Broad incumbents

  • Korn Ferry: Korn Ferry is a much larger publicly-traded organizational consulting firm whose Executive Search segment directly competes with Caldwell, while also offering adjacent HR consulting and RPO services. It competes with Caldwell for premium mandates but on a much broader scale.
  • Robert Half International: Robert Half is a publicly-traded global staffing and talent solutions firm with a dedicated executive search practice (Protiviti-adjacent). It overlaps Caldwell's professional-level and mid-management search offerings through IQTalent.
  • Hays plc: Hays is a UK-listed global recruitment firm spanning professional and executive search. While skewed to mid-market/contract staffing, its executive and permanent search operations are thematically comparable to Caldwell's professional-level search.

Emerging players

  • DHR International (now part of Heidrick & Struggles): DHR International was a mid-sized executive search firm specializing in senior leadership placement before its acquisition by Heidrick & Struggles. Pre-acquisition it was a closely-comparable mid-cap peer to Caldwell.

Others

  • IQTalent Partners (now part of Caldwell): IQTalent Partners was a research and sourcing firm focused on candidate pipelining for executive search engagements; Caldwell acquired it in 2020 and now brands its professional-level search offering under this name, illustrating the supply-side ecosystem for search firms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

The Caldwell Partners social profiles

Digital presence

The Caldwell Partners financial estimates

Financial estimate

Revenue estimate

Valuation estimate

The Caldwell Partners leadership team

Management profile

Number of profiles

Profiles3 records

The Caldwell Partners subsidiaries and ownership

Company hierarchy

Subsidiaries1 record

The Caldwell Partners funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

The Caldwell Partners M&A and investment

M&A and investment

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Caldwell Partners

What does The Caldwell Partners do?

The Caldwell Partners is a publicly traded executive search and leadership advisory firm that places senior-level executives and board directors with client organizations across multiple industries and geographies. Its core offerings are retained executive and board search engagements, supported by professional-level search (IQTalent), organizational effectiveness assessment, and dedicated research and sourcing capabilities. Services are delivered through industry- and function-specialized consultant teams operating from 22 offices globally.

Is The Caldwell Partners a public or private company?

The Caldwell Partners is a public company. It is classified as public and is currently operating.

When was The Caldwell Partners founded?

The Caldwell Partners was founded in 1973. It employs 51 to 100 people.

Where is The Caldwell Partners based?

The Caldwell Partners is headquartered in Toronto, Canada, in the North America region.

How does The Caldwell Partners make money?

One revenue line is on record: executive Search Professional Fees.

Who are The Caldwell Partners's main competitors?

Direct peers on record are Odgers Berndtson, Spencer Stuart, Heidrick & Struggles, Egon Zehnder and Russell Reynolds Associates. Broad incumbents are Korn Ferry, Robert Half International and Hays plc. DHR International (now part of Heidrick & Struggles) is listed as an emerging player. IQTalent Partners (now part of Caldwell) is listed as an others.

Does The Caldwell Partners have an API?

No public API is recorded for The Caldwell Partners.

What industry is The Caldwell Partners in?

The Caldwell Partners's product category is Executive Search Services. Its primary akta.pro industry code is BPAHACAA, Strategy & Corporate Development Consulting. Its NAICS code is 561312 and its SIC code is 8742.

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Live signals
Stock TitanCaldwell Adds Ali Palmer as Human Resources PartnerCaldwell added Ali Palmer as a partner in its Human Resources Practice, based in London. Palmer brings over 20 years of executive search and leadership advisory experience, advising boards on recruiting senior HR leaders. The appointment supports growth of Caldwell's European and global HR practice.Stock TitanCaldwell Announces 2026 Top 40 Under 40 HonoureesCaldwell announced the 2026 Canada's Top 40 Under 40 honourees, with the list published on FinancialPost.com and featured in print on October 21. The 40 recipients include leaders from Brookfield Energy, TD Bank, and others, and will be celebrated at a Toronto event in October.FinancialContent Business PageCaldwell Launches Global Financial Institutions Group PracticeCaldwell launched its Global Financial Institutions Group Practice, integrating its financial services capabilities under a single, globally coordinated practice. The practice advises clients on C-suite appointments across asset and wealth management, insurance, banking, fintech, and real assets. It aims to provide a broader, integrated view of the leadership market by searching across traditional sector boundaries.Stock TitanCaldwell Launches Global Financial Institutions PracticeCaldwell announced the launch of its Global Financial Institutions Group Practice, integrating its financial services capabilities under a single globally coordinated practice. The practice advises clients on C-suite appointments across asset management, insurance, banking, fintech, and real assets, aiming to provide a broader leadership market view.Markets DailyAsure Software (NASDAQ:ASUR) versus Caldwell Partners International (OTCMKTS:CWLPF) Critical ComparisonMarketBeat published a comparative analysis of Asure Software and Caldwell Partners International, evaluating their financial metrics, analyst ratings, and ownership structures. The report indicates that Asure Software is favored by analysts with a consensus target price suggesting significant upside, while also noting its recent net loss compared to Caldwell's earnings.Simply Wall StThe Profitable Penny Stocks Screen Turning Up Overlooked Value IdeasA financial screening tool from Simply Wall St identified three overlooked penny stock opportunities based on balance sheet strength, covering companies with a combined screen of over 325 additional candidates. The first highlight, Caldwell Partners International, is a Toronto-based recruitment firm generating CA$104.7 million from executive search with a P/E of 8.5x and a 50% dividend increase in July 2026. The second, Thor Explorations, is a Vancouver gold producer with the Segilola mine in Nigeria and a development project in Senegal, reporting Q1 2026 sales of US$74.32 million and 62.1% profit margins. The third, CEMATRIX, is a Calgary-based cellular concrete producer with a record CA$76.4 million backlog and Q2 2026 net income of CA$3.49 million.Ticker ReportCaldwell Partners International (TSE:CWL) Stock Price Crosses Above 50-Day Moving Average – Here’s What HappenedCaldwell Partners International Inc. stock crossed above its 50-day moving average during trading on Tuesday, reaching C$1.05 with 300 shares traded, as the company reported a market capitalization of C$30.66 million. The firm also announced an increase in its quarterly dividend to $0.015 per share, up from the previous $0.01, representing a 50% increase and a yield of 5.8%. The company, a technology-powered talent acquisition firm operating under the Caldwell and IQTalent brands, most recently reported earnings on July 9th with revenue of C$28.82 million for the quarter.FinancialContent Business PageCaldwell Reports Third Quarter Results and Announces Increase of Quarterly DividendCaldwell Partners International Inc. reported Q3 fiscal 2026 results with professional fees of $28.6 million, up 3% year-over-year, and net earnings of $1.6 million compared to $841,000 in the same period last year. The company announced a 50% increase in its quarterly dividend to $0.015 per share, payable in September 2026, reflecting the Board's confidence in the business. CEO Chris Beck noted that while overall business activity remains constructive, hiring demand moderated during the latter part of the quarter due to geopolitical and economic uncertainty in certain international markets.Stock TitanCaldwell lifts quarterly dividend 50% as Q3 profit risesCaldwell Partners International Inc. reported fiscal Q3 2026 results with revenues of $28.8 million and net earnings of $1.6 million, both increasing year over year from $27.9 million and $0.8 million respectively. The company announced a 50% increase in its quarterly dividend to $0.015 per share, payable September 14, 2026, with operating profit rising 34% to $2.5 million. Management noted that hiring demand moderated in the latter part of the quarter due to geopolitical and economic uncertainty, particularly in certain international markets.Stock TitanCaldwell gets TSX approval for 2.02M-share buybackThe Toronto Stock Exchange has approved Caldwell Partners' normal course issuer bid to purchase up to 2,023,669 common shares, representing 10% of the company's public float, for cancellation over a one-year period starting May 6, 2026. The buyback will be executed through Beacon Securities Ltd. and is intended to enhance shareholder value by acquiring shares at a discount to the company's perceived underlying value. The company previously completed a similar bid from January 2025 to January 2026, purchasing 150,000 shares at an average price of C$0.87.