Cass Information Systems Inc.'s board declared a fourth-quarter dividend of 27 cents per share, up from the previous payout of 26 cents per share.
The dividend will be paid Dec. 13 to stockholders of record Dec. 3.
Additionally, the board voted to restore the capacity of the company's stock repurchase program to 500,000 common shares. Repurchases will be made from time to time in the open market or through negotiated transactions.
The St. Louis-based company reported third-quarter net income of $8.2 million, or 56 cents per share, up from the year-ago period's $7.6 million, or 51 cents per share.