CSP Inc. (NASDAQ:CSPI) Plans Dividend Increase – $0.03 Per Share

CSP Inc. (NASDAQ:CSPIGet Free Report) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.03 per share by the information technology services provider on Wednesday, June 12th. This represents a $0.12 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, May 23rd. This is an increase from CSP’s previous quarterly dividend of $0.03.

CSP Trading Up 2.0 %

Shares of NASDAQ CSPI opened at $15.11 on Wednesday. CSP has a 12-month low of $4.91 and a 12-month high of $29.92. The company has a market cap of $147.32 million, a price-to-earnings ratio of 26.98 and a beta of 1.30. The stock’s 50 day simple moving average is $16.53 and its 200 day simple moving average is $14.38.

Insider Buying and Selling

In other CSP news, insider Joseph R. Nerges purchased 1,940 shares of the stock in a transaction dated Monday, March 11th. The shares were bought at an average cost of $17.97 per share, with a total value of $34,852.10. Following the completion of the acquisition, the insider now owns 1,335,366 shares of the company’s stock, valued at $23,989,850.19. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders acquired 3,140 shares of company stock valued at $57,400 in the last three months. 15.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CSPI shares. TheStreet downgraded shares of CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th. StockNews.com lowered shares of CSP from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th.

Check Out Our Latest Report on CSP

About CSP

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CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.

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Dividend History for CSP (NASDAQ:CSPI)

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