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

Cass Information Systems, Inc. (NASDAQ:CASS) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Tuesday, June 3rd will be paid 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 is Tuesday, June 3rd.

Cass Information Systems has raised its dividend by an average of 3.5% annually over the last three years and has increased its dividend every year for the last 23 years. Cass Information Systems has a dividend payout ratio of 39.4% 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

Cass Information Systems stock opened at $39.44 on Tuesday. Cass Information Systems has a one year low of $37.99 and a one year high of $47.14. The stock’s 50 day moving average price is $42.41 and its 200 day moving average price is $42.46. The firm has a market capitalization of $531.06 million, a PE ratio of 28.58 and a beta of 0.49.

Cass Information Systems (NASDAQ:CASS) last released its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $46.41 million during the quarter, compared to analyst estimates of $51.49 million. Cass Information Systems had a net margin of 9.62% and a return on equity of 8.25%. On average, analysts forecast that Cass Information Systems will post 2.62 earnings per share for the current fiscal 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.