Pason Systems Inc. (PSI) Announces $0.18 Quarterly Dividend

Pason Systems Inc. (TSE:PSI) announced a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Monday, December 31st will be paid a dividend of 0.18 per share on Monday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, December 13th.

Pason Systems stock traded down C$0.17 during trading hours on Friday, reaching C$19.20. 194,900 shares of the company’s stock were exchanged, compared to its average volume of 125,511. Pason Systems has a twelve month low of C$16.05 and a twelve month high of C$24.57.

Pason Systems (TSE:PSI) last issued its earnings results on Wednesday, November 7th. The company reported C$0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.20 by C$0.08. The firm had revenue of C$82.34 million during the quarter, compared to analyst estimates of C$77.30 million. On average, sell-side analysts forecast that Pason Systems will post 0.879999985462055 earnings per share for the current year.

Several brokerages have recently commented on PSI. National Bank Financial raised their target price on Pason Systems from C$23.00 to C$24.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. GMP Securities raised their target price on Pason Systems from C$22.00 to C$24.50 in a research note on Friday, August 10th. Finally, CIBC reduced their target price on Pason Systems from C$23.00 to C$22.00 in a research note on Tuesday, October 16th.

In other news, insider Marcel Kessler bought 1,200 shares of Pason Systems stock in a transaction dated Friday, November 16th. The stock was bought at an average cost of C$21.50 per share, for a total transaction of C$25,800.00. Also, insider Kevin Chi Hin Lo sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of C$22.16, for a total transaction of C$886,400.00. Over the last 90 days, insiders bought 14,000 shares of company stock valued at $267,960 and sold 471,333 shares valued at $10,213,673.

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Pason Systems Company Profile

Pason Systems Inc provides instrumentation data management systems for drilling rigs worldwide. The company offers Electronic AutoDriller, which maximizes the rate of penetration by monitoring multiple drilling parameters; Electronic Choke Actuator that provides a means of remotely controlling the choke valve; and Electronic Drilling Recorder.

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Dividend History for Pason Systems (TSE:PSI)

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