Cass Information Systems, Inc (NASDAQ:CASS) Declares Dividend Increase - $0.32 Per Share

Key Points

• Cass Information Systems, Inc announced a quarterly dividend increase to $0.32 per share, marking a 3.2% increase from the previous $0.31 dividend.
• The dividend is scheduled to be paid on December 15th, with a record date of December 5th, and has a long-term payout ratio of approximately 40.1%.
• Cass Information Systems reported $0.69 EPS for the latest quarter, exceeding analysts' estimates by $0.06, with revenues reaching $50.06 million.

Cass Information Systems, Inc (NASDAQ:CASS - Get Free Report) announced a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, December 5th will be given a dividend of 0.32 per share by the business services provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, December 5th. This is a 3.2% increase from Cass Information Systems's previous quarterly dividend of $0.31.

Cass Information Systems has a payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cass Information Systems to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 39.4%.

Cass Information Systems Stock Performance

Shares of CASS traded up $1.39 during trading hours on Thursday, reaching $39.43. 95,500 shares of the company traded hands, compared to its average volume of 56,176. The stock's fifty day moving average is $40.91 and its 200 day moving average is $41.73. The stock has a market cap of $521.26 million, a P/E ratio of 21.20 and a beta of 0.46. Cass Information Systems has a 1-year low of $36.07 and a 1-year high of $47.14.

Cass Information Systems (NASDAQ:CASS - Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The business services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.06. The business had revenue of $50.06 million during the quarter, compared to analyst estimates of $50.20 million. Cass Information Systems had a net margin of 13.22% and a return on equity of 9.02%. On average, equities research analysts predict that Cass Information Systems will post 2.62 EPS for the current year.

About Cass Information Systems

Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. The company operates through two segments, Information Services and Banking Services. Its services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.

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