Issuer Direct Corp. is suspending its 5-cent quarterly dividend in order to fund future business opportunities.

The suspension of the dividend took effect at the ending of its third quarter on Sept. 30.

Brian R. Balbirnie, chief executive officer of Issuer Direct, said the suspension is aimed to support future technology investments and acquisitions.

“Over the last three years, the company has returned $1.6 million to our shareholders by way of quarterly dividends,” said Balbirnie. “Suspending the dividend clearly indicates our view on the importance of investing in our technology and sales efforts to fuel our top line growth and using our cash to acquire strategically aligned businesses and technologies.”

The company’s board of directors added that Issuer Direct will use the additional cash to expand its sales and marketing team.

Issuer Direct has returned a 5-ent quarterly dividend to its shareholders since July 2016.

The company was founded in 1988 with a purpose to eliminate the complexity associated with producing and distributing financial and business communications. It provides services to over 2,500 public and private companies in 18 countries.

The Cary-based company’s stock price rose 20 cents to $15.15 on Thursday. The stock price is down 12.3 percent since the start of the year.