IT services provider Computer Task Group (NASDAQ:CTG) announced yesterday its second-quarter dividend of $0.05 per share, the same rate it paid last quarter after reinstating the payout following more than a decade without a dividend.
The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 14. Before the first-quarter payment, the IT firm hadn't made a payout since 2000.
CTG Chairman and CEO James R. Boldt said: "Based on CTG's record of earnings growth over several years, significant cash flows, and favorable future outlook, we are confident in our ability to fund a regular quarterly dividend, as well as further investments in our business and share repurchases."
The regular dividend payment equates to a $0.20-per-share annual dividend yielding 0.9% based on the closing price of Computer Task Group's stock on May 9.