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.
