Cass Information Systems, Inc (NASDAQ:CASS) to Issue Quarterly Dividend of $0.34

Cass Information Systems, Inc (NASDAQ:CASS) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Friday, December 4th will be paid a dividend of $0.34 per share by the business services provider on Monday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, December 4th. This is a 6.3% increase from Cass Information Systems’s previous quarterly dividend of $0.32.

Cass Information Systems has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cass Information Systems to earn $3.61 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 35.5%.

Cass Information Systems Stock Performance

Cass Information Systems stock traded up $2.77 during mid-day trading on Thursday, hitting $57.67. 85,487 shares of the company traded hands, compared to its average volume of 79,342. Cass Information Systems has a one year low of $38.20 and a one year high of $59.63. The stock has a market cap of $738.75 million, a price-to-earnings ratio of 20.74 and a beta of 0.39. The stock has a fifty day moving average price of $55.29 and a 200-day moving average price of $51.74.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, October 22nd. The business services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $27.53 million during the quarter, compared to analysts’ expectations of $52.29 million. Cass Information Systems had a net margin of 18.45% and a return on equity of 14.89%. Sell-side analysts predict that Cass Information Systems will post 2.98 EPS for the current year.

About Cass Information Systems

Cass Information Systems, Inc (NASDAQ:CASS) provides payment and information-processing services to businesses. Its offerings are designed to help companies manage, audit and analyze expenditures associated with transportation, utilities, telecommunications and other recurring business expenses.

The company’s transportation services include freight invoice payment, auditing, rating, electronic data interchange and related information-management tools for shippers and logistics organizations.