Pason Systems Inc. (PSI) to Issue Quarterly Dividend of $0.18 on December 31st

Pason Systems Inc. (TSE:PSI) announced a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Monday, December 31st will be given 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 is Thursday, December 13th.

PSI traded down C$0.17 during trading 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 fifty-two week low of C$16.05 and a fifty-two week high of C$24.57.

Pason Systems (TSE:PSI) last released its earnings results on Wednesday, November 7th. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.20 by C$0.08. The business had revenue of C$82.34 million for the quarter, compared to analyst estimates of C$77.30 million. Equities analysts expect that Pason Systems will post 0.879999985462055 EPS for the current year.

A number of analysts have commented on PSI shares. National Bank Financial lifted their target price on shares of Pason Systems from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. CIBC lowered their target price on shares of Pason Systems from C$23.00 to C$22.00 in a report on Tuesday, October 16th. Finally, GMP Securities lifted their target price on shares of Pason Systems from C$22.00 to C$24.50 in a report on Friday, August 10th.

In other news, insider Kevin Chi Hin Lo sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of C$22.16, for a total value of C$886,400.00. Also, insider James Douglas Hill sold 225,500 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of C$21.56, for a total transaction of C$4,861,780.00. In the last three months, 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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About Pason Systems

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Dividend History for Pason Systems (TSE:PSI)

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