Computer Services raises dividend for 49th consecutive year

Computer Services dividend increase 2020

Computer Services (CSVI) will raise its quarterly dividend by 19 percent to 25 cents per share in 2020. This marks the 49th consecutive year of annual dividend increases by the it services company.

 Last year the company hiked its dividend by 16.7 percent and in 2018 a dividend increase of 16.1 percent was announced by Computer Services.

The next dividend is payable on September 25, 2020, to shareholders of record as of the close of business on September 1, 2020. A new indicated annual dividend rate of $1.00 per share yields 1.9% at a stock price of $53 for CSVI.

“We are pleased to announce our 49th consecutive year of increased cash dividends paid to stockholders,” stated Chairman and CEO Steven A. Powless in CSVI's press release announcing this increase. “The new dividend amount represents a 19.1% increase over the cash dividend per share paid in the previous four quarters. We expect to fund the increased dividend with our strong cash flow from operations.

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“Last year, CSI reported its 20th consecutive year of increased revenues and 23rd consecutive year of increased net income. We are very proud of our long-term growth record, including 49 years of growing our cash dividend. In addition to building shareholder value through our dividend program, we remain focused on using our strong financial position and cash flow to invest in CSI’s technology, infrastructure and people to support our continued growth,” Powless concluded.

Computer Services, Inc. (CSI) delivers innovative financial technology and regulatory compliance solutions to financial institutions and corporate customers across the nation. Through a combination of expert service, cutting-edge technology and a customer-first mentality, CSI excels at driving businesses forward in a rapidly changing industry. CSI’s expertise and commitment to authentic partnerships has resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, American Banker’s Best Fintechs to Work For and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI.

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