Global Payments (GPN) will raise its quarterly dividend by no less than 1850 percent to $0.195 per share in 2019.
This is the first ever dividend increase by the payment technology company and follows a 1 cent per share quarterly dividend in the previous years. GPN initiated a (split adjusted) 4 cent quarterly dividend in 2001 and has split its shares in 2005 and 2015.
The next dividend is payable December 27, 2019 to shareholders of record as of December 13, 2019. A new annual rate of 78 cents per share yields 0.5% at a stock price of $172.35.
Global Payments Inc. is a provider of payment technology and software solutions. The company's payment technology solutions enable customers to accept card, electronic, check and digital-based payments. The company's offerings include authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements and on-line reporting. Also GPN offers enterprise software solutions and value-added services, including analytic and engagement tools, payroll services and reporting. GPN has been in the payment technology services business since 1967 through its former parent company from National Data Corporation. The company was incorporated in Georgia as Global Payments Inc. in 2000 and spun-off from National Data in 2001.