Communications Systems, Inc. to Issue Quarterly Dividend of $0.04 (JCS)
Communications Systems, Inc. (NASDAQ:JCS) declared a quarterly dividend on Friday, August 17th, Wall Street Journal reports. Stockholders of record on Friday, September 14th will be paid a dividend of 0.04 per share by the communications equipment provider on Monday, October 1st. This represents a $0.16 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Thursday, September 13th.
Communications Systems has decreased its dividend payment by an average of 37.0% per year over the last three years. Communications Systems has a dividend payout ratio of -20.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
Shares of NASDAQ JCS traded down $0.02 during midday trading on Friday, hitting $3.52. 13,458 shares of the company’s stock were exchanged, compared to its average volume of 13,501. Communications Systems has a 12 month low of $3.18 and a 12 month high of $4.79. The company has a market capitalization of $31.38 million, a P/E ratio of -23.47 and a beta of 0.73.
Separately, ValuEngine upgraded Communications Systems from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd.
In other news, Director Curtis A. Sampson bought 10,000 shares of the stock in a transaction on Friday, May 25th. The stock was acquired at an average price of $3.89 per share, with a total value of $38,900.00. Following the acquisition, the director now directly owns 652,349 shares in the company, valued at $2,537,637.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.50% of the stock is currently owned by insiders.
Communications Systems Company Profile
Communications Systems, Inc, through its subsidiaries, manufactures and sells connectivity infrastructure products for broadband and voice communications in North America, Europe, the Middle East, Africa, and internationally. The company's Suttle segment provides enclosure systems to support premise distribution of broadband and other connectivity networks; fiber optic management and connectivity solutions for access and premise networks; and modular connecting products for copper telecommunications networks, as well as DSL products that support broadband connectivity to copper networks under the Suttle brand name.
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