Pason Systems Inc. (TSE:PSI) to Issue $0.19 Quarterly Dividend

Pason Systems Inc. (TSE:PSI) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.19 per share on Monday, December 30th. This represents a $0.76 annualized dividend and a yield of 5.86%. The ex-dividend date is Friday, December 13th.

TSE:PSI traded up C$0.07 on Wednesday, hitting C$12.97. The stock had a trading volume of 230,479 shares, compared to its average volume of 160,133. The business’s fifty day moving average is C$13.60 and its 200 day moving average is C$16.39. The company has a market cap of $1.09 billion and a PE ratio of 17.29. The company has a quick ratio of 6.61, a current ratio of 7.12 and a debt-to-equity ratio of 4.11. Pason Systems has a 52 week low of C$12.45 and a 52 week high of C$21.31.

In related news, Senior Officer Jonathan Faber bought 4,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were bought at an average price of C$16.50 per share, for a total transaction of C$66,000.00. Following the completion of the acquisition, the insider now directly owns 21,500 shares of the company’s stock, valued at C$354,750. Also, Senior Officer Marcel Kessler bought 2,785 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average price of C$12.61 per share, for a total transaction of C$35,104.93. Following the acquisition, the insider now directly owns 62,923 shares of the company’s stock, valued at C$793,144.42.

A number of research analysts have recently weighed in on PSI shares. BMO Capital Markets dropped their target price on Pason Systems from C$24.00 to C$21.00 in a report on Tuesday, September 10th. National Bank Financial dropped their target price on Pason Systems from C$20.00 to C$17.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, CIBC dropped their target price on Pason Systems from C$22.00 to C$20.00 in a report on Thursday, November 7th.

About Pason Systems

Pason Systems Inc provides instrumentation and data management systems for drilling rigs. 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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