Computer Task Group Keeps Dividend Steady at a Nickel
May 10th 2013 10:53AM
Updated May 10th 2013 11:45AM
IT services provider Computer Task Group 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.
The article Computer Task Group Keeps Dividend Steady at a Nickel originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.