CSI Declares $0.25 Per Share Cash Dividend

Rhea-AI Summary

Computer Services, Inc. (CSI) announced a quarterly cash dividend of $0.25 per share, payable on March 29, 2021, to shareholders of record by March 15, 2021. This marks a 19.1% increase compared to the same quarter last year and adds to the recent $1.00 special cash dividend paid in December 2020. This is the 49th consecutive increase in the regular cash dividend, reflecting CSI's commitment to long-term shareholder value. The company plans to leverage its strong financial position for further investment in technology and infrastructure.

Positive

• Quarterly dividend increased by 19.1%, highlighting strong financial health.
• 49 consecutive dividend increases demonstrate commitment to shareholder value.
• Strong cash flow and financial position enable further investments in technology and infrastructure.

Negative

• None.

Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors approved a quarterly cash dividend of $0.25 per share. The dividend is payable on March 29, 2021, to shareholders of record as of the close of business on March 15, 2021.

“This quarter’s dividend of $0.25 per share represents a 19.1% increase in the cash dividend paid compared with the same quarter of last year, and the increase is in addition to the $1.00 per share special cash dividend paid to CSI shareholders on December 30, 2020,” stated Chairman and CEO Steven A. Powless. “This year marks CSI’s 49th consecutive increase in our regular cash dividend, and our Board remains focused on building long-term shareholder value through our cash dividend and stock buyback programs. In addition, we intend to use CSI’s strong financial position and cash flow to invest in our technology, infrastructure and people to support our continued growth.”

About Computer Services, Inc.

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. For more information about CSI, visit www.csiweb.com.

Forward-Looking Statements

This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. All statements except historical statements contained herein constitute “forward-looking statements.” Forward-looking statements are inherently uncertain and are based only on current expectations and assumptions that are subject to future developments that may cause results to differ materially.

Readers should carefully consider: (i) economic, competitive, technological and governmental factors affecting CSI’s operations, customers, markets, services, products and prices; (ii) risk factors affecting the financial services information technology industry generally including, but not limited to, cybersecurity risks that may result in increased costs for us to protect against the risks, as well as liability or reputational damage to CSI in the event of a breach of our security; (iii) risk factors affecting the United States economy generally including without limitation acts of terrorism, military actions including war, and viral epidemics and pandemics that alter human behaviors, including the COVID-19 pandemic and its effect on our business operations and financial results; (iv) increasing domestic and international regulation imposing burdensome requirements regarding the privacy of consumer data especially consumer financial transaction data of which CSI possesses substantial quantities; and (v) other factors discussed in CSI's Annual Reports, Quarterly Reports, news releases and other documents posted from time to time on the OTCQX website (www.otcmarkets.com), including without limitation, the description of the nature of CSI's business and its management discussion and analysis of financial condition and results of operations for reported periods. Except as required by law or OTC Markets Group, Inc., CSI undertakes no obligation to update, and is not responsible for updating, the information contained or incorporated by reference in this report beyond the publication date, whether as a result of new information or future events, or to conform this document to actual results or changes in CSI's expectations, or for changes made to this document by wire services or Internet services or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005156/en/

FAQ

What is the dividend amount and payment date for CSVI?

The dividend amount is $0.25 per share, payable on March 29, 2021.

How much has the quarterly dividend increased compared to last year?

The quarterly dividend has increased by 19.1% compared to the same quarter last year.

How many consecutive dividend increases has CSVI achieved?

CSI has achieved 49 consecutive increases in its regular cash dividend.

What are the future plans for CSI regarding shareholder value?

CSI plans to continue building shareholder value through cash dividends and stock buyback programs.

What was the special cash dividend paid in December 2020?

CSI paid a special cash dividend of $1.00 per share on December 30, 2020.