Pason Systems Inc. (PSI) to Issue Dividend Increase – $0.18 Per Share

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Pason Systems Inc. (TSE:PSI) declared a quarterly dividend on Wednesday, August 8th, Zacks reports. Shareholders of record on Friday, September 14th will be given a dividend of 0.18 per share on Friday, September 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Thursday, September 13th. This is a positive change from Pason Systems’s previous quarterly dividend of $0.17.

Pason Systems stock traded up C$0.18 during trading hours on Friday, reaching C$20.79. 53,400 shares of the company’s stock traded hands, compared to its average volume of 115,214. Pason Systems has a fifty-two week low of C$16.05 and a fifty-two week high of C$22.10.

In related news, insider Melinda Ando sold 6,100 shares of the stock in a transaction that occurred on Tuesday, June 26th. The shares were sold at an average price of C$21.66, for a total value of C$132,126.00. Also, insider Kevin Boston sold 6,000 shares of the stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of C$20.95, for a total transaction of C$125,700.00.

PSI has been the topic of a number of research reports. Industrial Alliance Securities upped their target price on shares of Pason Systems from C$19.00 to C$20.50 in a research report on Thursday, August 9th. CIBC increased their price target on shares of Pason Systems from C$19.00 to C$20.00 in a research report on Friday, July 20th. GMP Securities increased their price target on shares of Pason Systems from C$22.00 to C$24.50 in a research report on Friday, August 10th. Finally, National Bank Financial upgraded shares of Pason Systems from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$22.00 to C$23.00 in a research report on Thursday, August 9th.

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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