CSI Board Increases Quarterly Cash Dividend by 13.6% 23rd Consecutive Annual Increase in Cash Dividend
PADUCAH, Ky., July 1, 2011 /PRNewswire/ -- Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors declared a quarterly cash dividend of $0.125 per share representing a 13.6% increase over the $0.11 per share dividend paid in the prior quarter. The dividend is payable on September 26, 2011, to shareholders of record as of the close of business on September 1, 2011. The new quarterly dividend amount represents an indicated annual dividend rate of $0.50 per share.
"This is our 23rd consecutive annual increase in our cash dividend and highlights our focus on building long-term shareholder value through our cash dividend program," stated Steven A. Powless, Chief Executive Officer of CSI. "We believe the dividend increase underscores our strong financial condition and excellent cash flow from operations as well as our Board's confidence in CSI's future growth opportunities."
CSI was recently featured as one of the "top performing U.S. Dividend Contenders" by Seeking Alpha. CSI was ranked as one of the top 15 companies for each of the 1-year, 3-year, 5-year and 10-year timeframes as measured by a stock's compounded annual growth rate assuming full dividend reinvestment at market price on the day the dividend is received.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core banking, payments processing, Internet, card services, risk assessment, fraud prevention, network management, regulatory compliance and document delivery solutions to financial institutions and corporate entities across the nation. Technology planning, personal account management and world-class customer service explain why CSI is known as one of the nation's premier providers of technology solutions for the financial services industry. CSI's stock is traded on the OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.
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; and (ii) other factors discussed in CSI's Information and Disclosure Statements and other documents posted from time to time on the OTCQX website, 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. CSI undertakes no obligation to update, and is not responsible for updating, the information contained in this release beyond the publication date, whether as a result of new information or future events, or to conform the statement to actual results or changes in CSI's expectations, or otherwise or for changes made to this document by wire services or Internet services.
SOURCE Computer Services, Inc.