CSG Systems Starts Paying a Dividend

Telecom industry services provider CSG Systems (NASDAQ: CSGS  ) announced today that it would initiate the payment of a quarterly dividend to investors, marking the first time in company history it has done so.

The board of directors said the quarterly dividend of $0.15 per share is payable on July 25 to the holders of record at the close of business on July 10. Going forward, it expects to pay dividends each year in September, December, March, and June. 

CSG Systems President and CEO Peter Kalan said: "Since our inception, we have demonstrated that we can grow revenues at or above the market, make important investments to help us get broader and deeper in our clients' operations, and generate strong, predictable cash flows. These characteristics have provided us with a strong balance sheet and the flexibility to continue to invest in our business while at the same time, return capital to our shareholders."

The regular dividend payment equates to a $0.60-per-share annual dividend, yielding 2.8% based on the closing price of CSG Systems' stock on June 24.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2508762, ~/Articles/ArticleHandler.aspx, 4/17/2014 5:58:08 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement