CSP Inc. (NASDAQ:CSPI) Announces $0.03 Quarterly Dividend

CSP Inc. (NASDAQ:CSPI) declared a quarterly dividend on Tuesday, December 16th. Shareholders of record on Friday, December 26th will be paid a dividend of 0.03 per share by the information technology services provider on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, December 26th.

CSP has decreased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 2 consecutive years.

CSP Stock Performance

Shares of CSP stock opened at $12.78 on Wednesday. The firm has a fifty day moving average of $12.15 and a two-hundred day moving average of $11.94. The stock has a market capitalization of $126.01 million, a price-to-earnings ratio of -76.11 and a beta of 0.67. CSP has a 52 week low of $9.65 and a 52 week high of $21.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in shares of CSP by 3,943.3% during the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,366 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in CSP during the 2nd quarter worth approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CSP in the second quarter valued at approximately $49,000. Raymond James Financial Inc. acquired a new position in shares of CSP in the second quarter valued at approximately $91,000. Finally, New York State Common Retirement Fund bought a new stake in shares of CSP during the second quarter worth $122,000. 26.74% of the stock is currently owned by institutional investors.

About CSP

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.