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Computer Services, Inc. (OTCQX: CSVI) declared a quarterly cash dividend of $0.27 per share, payable on December 27, 2021, to shareholders on record as of December 1, 2021. This marks an 8.0% increase from the same quarter last year, celebrating 50 consecutive years of dividend growth. Executive Chairman Steven A. Powless emphasized a commitment to returning earnings to shareholders while reinvesting in technology and infrastructure to support continued growth.
Positive
Quarterly cash dividend increased by 8.0% compared to last year.
50 consecutive years of increased cash dividends paid to shareholders.
Strong cash flow supports earnings return to shareholders.
Negative
None.
PADUCAH, Ky.--(BUSINESS WIRE)--
Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors approved a quarterly cash dividend of $0.27 per share. The dividend is payable on Dec. 27, 2021, to shareholders of record as of the close of business on Dec. 1, 2021.
“This quarter’s cash dividend represents an 8.0% increase in CSI’s quarterly cash dividend compared with the same quarter last year,” stated Executive Chairman Steven A. Powless. “This year also marks our 50th consecutive year of increased cash dividends paid to shareholders. Our Board of Directors remains focused on using CSI’s strong cash flow to return a portion of our earnings to shareholders while investing in CSI’s technology, infrastructure and people to support our continued growth.”
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, digital banking, managed services, payments processing, print and electronic document distribution, and regulatory compliance solutions to financial institutions and corporate customers, both foreign and domestic. Management believes exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the Company’s inclusion in such top industry-wide rankings as IDC Financial Insights FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers lists. CSI has also been recognized by Aite Group, a leading industry research firm, as providing the “best user experience” in its 2019 AIM Evaluation: The Leading Providers of U.S. Core Banking Systems. In addition, CSI's record of increasing its dividend each year for 50 years has earned it a designation as one of the financial media’s “Dividend Aristocrats.” CSI’s stock is traded on OTCQX under the symbol CSVI. For more information, visit 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.
