GGRAsia – TransAct to pay quarterly cash dividend of US$0.09 a share

TransAct to pay quarterly cash dividend of US$0.09 a share

May 03, 2019 Newsdesk Latest News, Top of the deck, World

TransAct Technologies Inc, a United States-supplier of software and printing systems for casinos and other businesses, says it has declared a quarterly cash dividend of US$0.09 a share.

TransAct issued a press release on Wednesday that said the dividend would be payable on June 14 to shareholders on record at the close of business on May 20.

The company said that, annualised, the quarterly dividend means an annual yield of 3.8 percent, based on the price of TransAct stock when trading at the NASDAQ ended on Tuesday, which was US$9.42 a share.

TransAct announced in March that its annual net profit rose by 69 percent to nearly US$5.4 million in 2018, on net sales that shrank by 3.1 percent to about US$54.59 million.

Annual sales to casinos and other gaming businesses grew to more than US$26.59 million last year from almost US$18.62 million the year before.

TransAct made a net profit of US$962,000 in the fourth quarter of last year, having made a net loss of US$412,000 a year earlier, on fourth-quarter net sales that shrank to US$11.76 million from more than US$13.19 million.

Fourth-quarter sales to casinos and other gaming businesses, however, grew to almost US$5.32 million from just more than US$4.4 million.