Cass Information Systems (CASS) will raise its quarterly dividend by 8.3 percent to $0.24 per share in 2018. Last year the dividend was hiked from $0.23 to $0.24 per share quarterly.

The next dividend is payable June 15, 2018 to shareholders of record June 5, 2018. The new dividend yield for the company is 1.7%. Cass has continuously paid regularly scheduled cash dividends since 1934.

“In authorizing a mid-year increase in the cash dividend, Cass directors again demonstrated their commitment to rewarding shareholders and optimism about the immediate and long-term prospects of the company,”  said Eric H. Brunngraber, Cass chairman and chief executive officer.

Cass Information Systems, Inc. (Cass) is a provider of payment and information processing services to manufacturing, distribution and retail enterprises across the United States with operating locations in Missouri, Ohio, Massachusetts, South Carolina and Florida. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations.