PADUCAH, Ky.--(BUSINESS WIRE)--Computer Services, Inc. (CSI) (OTCQX: CSVI) announced that its Board of Directors declared a quarterly cash dividend of $0.28 per share. The dividend is payable on March 31, 2017, to shareholders of record as of the close of business on March 15, 2017. The quarterly dividend represents an indicated annual dividend rate of $1.12 per share.
“This quarter’s cash dividend represents a 12% increase compared with the $0.25 per share amount paid last year,” stated Chief Executive Officer Steven A. Powless. “Our Board of Directors remains committed to building long-term shareholder value through our cash dividend program that is highlighted by 45 consecutive years of increasing the cash dividend.”
The Company also reported that two members of the company’s Board of Directors submitted their resignations from the Board effective March 31, 2017. Richard A. Anderson and Linda Ellis Johnson notified the company that they resigned due to a disagreement with the governance and direction of the company. Neither Mr. Anderson nor Dr. Johnson served on any Board Committee. Following the resignations, CSI’s Board of Directors will have seven continuing members.
About Computer Services, Inc.
Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation, and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on 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; (ii) risk factors affecting the financial services information technology industry generally including, but not limited to, cybersecurity risks that may result in increased costs to CSI to protect against the risks, as well as liability or reputational damage to CSI in the event of a breach of our security; and (iii) other factors discussed in CSI's Annual Report, Quarterly Reports, Information and Disclosure Statements and other documents posted from time to time on the OTCQX website (www.otcqx.com), 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. Unless required by law, CSI undertakes no obligation to update, and is not responsible for updating, the information contained in this report 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.