PADUCAH, Ky., March 8, 2011 /PRNewswire/ -- Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share. The dividend is payable on March 31, 2011, to shareholders of record as of the close of business on March 16, 2011. The dividend amount represents an indicated annual dividend rate of $0.44 per share.
"This dividend represents a 15.8% increase in the cash dividend compared with the same quarter last year adjusted for the two-for-one stock split paid in April 2010," stated Steven A. Powless, President and CEO of CSI. "Our Board of Directors remains focused on building long-term shareholder value through our cash dividend program and the increase highlights our strong financial condition, record results and excellent cash flow from operations."
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.