CSI Announces 5% Stock Dividend; Cash Dividend Declared.PADUCAH, Ky.--(BUSINESS WIRE)--Nov. 19, 1998--Computer Services, Inc. (CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International ) (Stock Symbol: CSVI) today announced that its Board of Directors declared a 5% stock dividend. The stock dividend -- one additional share of common stock for every 20 shares held by shareholders -- will be distributed on December 14, 1998, to shareholders of record as of the close of business on November 23, 1998. CSI currently has 2,078,500 common shares outstanding. The Company will pay cash in lieu Cash In Lieu (CIL) In a typical exchange offer, "old" shares of the target company are exchanged for "new shares". of any fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. resulting from the stock dividend. The Company also declared a cash dividend of 16 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. payable on December 28, 1998, to shareholders of record as of the close of business on December 1, 1998. Commenting on the announcement, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John A. Williams said, "CSI reported increased revenues and net income for the first six months of fiscal 1998. Our improved results were due to new business, growth from our existing customer base and the acquisition of Computer Bank, Inc., acquired on May 1, 1998. We remain focused on building shareholder value and believe the 5% stock dividend will improve our stock's liquidity and reward long-term shareholders with additional shares of CSI stock." CSI, the nation's premier community bank processor, serves nearly 350 community banks that have combined assets of $27 billion in the states of Illinois, Indiana, Kentucky, Arkansas, Louisiana, Michigan, Mississippi, Missouri, Ohio, Tennessee, Texas and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . CSI's address on the World Wide Web is http//www.csiweb.com |
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