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Computer Services, Inc. (OTC-PINK: CSVI) announced a quarterly cash dividend of $0.27 per share, payable on March 29, 2022, to shareholders on record as of March 15, 2022. The company expects to report record results for both the fourth quarter and fiscal year 2022, highlighting an 8.0% increase in this dividend compared to the same period last year. Executive Chairman Steven A. Powless expressed confidence in continued growth and shareholder value through their dividend and stock repurchase programs.
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Expected record results for Q4 and fiscal year 2022.
Quarterly cash dividend increased by 8.0% year-over-year.
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Expects to Report Record Results for Fourth Quarter and Fiscal Year 2022
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 March 29, 2022, to shareholders of record as of the close of business on March 15, 2022.
“CSI expects to report record results for the fourth quarter of fiscal 2022, and for the full year,” stated Executive Chairman Steven A. Powless. “Our excellent results for fiscal 2022 are highlighted by this quarter’s dividend of $0.27 per share that represents an 8.0% increase in the cash dividend paid compared with the same quarter last year.
“We also remain confident in our ability to continue building upon our past successes as we enter fiscal 2023. CSI is proud of our record of paying increased cash dividends over the last 50 years while continuing to invest in CSI’s technology, infrastructure and personnel to support our ongoing growth. Reflecting this confidence, our Board of Directors remains focused on building long-term shareholder value through our cash dividend and stock repurchase programs.”
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 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 Kings.” 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.
