Cass Information Systems Inc

Cass Information Systems, Inc. provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. The company operates in two segments, Information Services and Banking Services. Its services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information. The company also processes and pays facility-related invoices, such as electricity, gas, waste, and telecommunications expenses; and provides telecom expense management solutions, as well as church management software and online platform to provide generosity services for faith-based and non-profit organizations. In addition, the company, through its banking subsidiary, Cass Commercial Bank, provides a range of banking products and services, such as demand, savings, time, and money market deposits; commercial, industrial, commercial real estate, and construction and land development loans; and cash management services to privately held businesses, restaurant franchises, and faith-based ministries. Further, it provides B2B payment platform for clients that require an agile fintech partner. It operates through its banking facility near downtown St. Louis, Missouri; operating branch in the Bridgeton, Missouri; and a leased facility in Colorado Springs, Colorado. Cass Information Systems, Inc. was formerly known as Cass Commercial Corporation and changed its name to Cass Information Systems, Inc. in January 2001. The company was founded in 1906 and is headquartered in Saint Louis, Missouri.

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Cass Information Systems declares $0.32 quarterly dividend

Cass Information Systems declared a quarterly dividend of $0.32 per share, in line with the previous payout. The dividend carries a forward yield of 2.39% and is payable on September 14 to shareholders of record as of September 4, with the ex-dividend date also set for September 4.

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Cass truckload linehaul rates rise 5.5% in June as volume recovery stalls

Cass Information Systems reported that its truckload linehaul index, which excludes fuel and accessorial surcharges, rose 5.5% year over year in June, marking the 18th consecutive month of annual increases. The broader expenditures index, measuring total freight spend, surged 11.2% year over year, driven by higher rates and a 40% jump in retail diesel fuel prices. However, the shipments component of the Cass Freight Index fell 4.1% year over year, accelerating from a 1.2% decline in May, and slid 3.1% sequentially. The report noted that tighter supply remains the main reason for accelerating rates, while a demand recovery may be delayed by inflation and a low U.S. savings rate.

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