Cass Information Systems, Inc. (NASDAQ:CASS) Plans $0.31 Quarterly Dividend

Cass Information Systems, Inc. (NASDAQ:CASS) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Tuesday, June 3rd will be given a dividend of 0.31 per share by the business services provider on Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, June 3rd.

Cass Information Systems has increased its dividend by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Cass Information Systems has a dividend payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. 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 Down 0.1 %

Shares of NASDAQ:CASS traded down $0.04 during trading on Monday, reaching $39.44. The stock had a trading volume of 51,438 shares, compared to its average volume of 41,855. Cass Information Systems has a fifty-two week low of $37.99 and a fifty-two week high of $47.14. The business has a fifty day moving average price of $42.51 and a 200-day moving average price of $42.47. The stock has a market cap of $531.06 million, a P/E ratio of 28.58 and a beta of 0.49.

Cass Information Systems (NASDAQ:CASS) last announced its quarterly earnings data on Thursday, April 17th. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Cass Information Systems had a return on equity of 8.25% and a net margin of 9.62%. The business had revenue of $46.41 million during the quarter, compared to the consensus estimate of $51.49 million. As a group, equities analysts forecast 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.