Broadridge Financial Solutions reports developments across financial technology, investor communications, governance services, and capital markets operations. Company news commonly covers proxy voting and disclosure solutions, managed services, trading and post-trade technology, financial messaging, and platforms used by banks, broker-dealers, asset managers, wealth managers, and corporate issuers.
Recurring updates also include artificial intelligence in capital markets and wealth workflows, digital asset and tokenized securities infrastructure, LTX corporate bond trading activity, Distributed Ledger Repo, client migrations to the Broadridge Swift Service Bureau, acquisitions that expand trading capabilities, investor events, dividends, and debt financing actions.
Broadridge Financial Solutions (NYSE: BR) has successfully closed its offering of $1.0 billion in 2.600% senior notes due 2031. The net proceeds will be used to repay part of its existing debt and for general corporate purposes. Major financial institutions like J.P. Morgan and BofA Securities acted as joint book-running managers for this offering. Broadridge provides critical financial infrastructure and has over $4.5 billion in revenues, servicing various clients in the financial industry. The company continues to navigate risks, including market volatility and cybersecurity threats.
Broadridge Financial Solutions (NYSE: BR) announced its partnership with Aviso Wealth, a Canadian financial services firm, to enhance its digital advisor desktop and securities processing engine. This collaboration aims to streamline dealer services for credit unions and institutional partners, facilitating the management of mutual fund and securities businesses on a unified platform. Broadridge's Dataphile solution has supported these operations for over 25 years and is expected to improve efficiencies amid a complex regulatory landscape. Aviso Wealth manages over $95 billion in assets.
Broadridge Financial Solutions (NYSE: BR) has successfully completed its acquisition of Itiviti Holding AB, a key player in trading and connectivity technology for capital markets. This acquisition strengthens Broadridge's Capital Markets franchise, enhancing its front-office capabilities and multi-asset class solutions. Itiviti, serving top global investment banks and brokers, offers scalable solutions that promote cost efficiency. The deal extends Broadridge's international reach, particularly in APAC and EMEA, positioning the company to better serve global financial institutions.
Broadridge Financial Solutions (NYSE: BR) has declared a quarterly cash dividend of $0.575 per share, payable on July 2, 2021, to stockholders of record as of June 15, 2021. The company, a leader in Fintech, reported revenues exceeding $4.5 billion, powering critical financial infrastructure for investors globally. Broadridge's operations facilitate daily trading activities worth over $10 trillion across various securities. This dividend declaration underscores the company's commitment to returning value to its shareholders.
Broadridge Financial Solutions (NYSE: BR) has released a new whitepaper discussing the shift toward mutualization in the financial services sector post-pandemic. This model offers faster access to technology, scalability, and cost savings. The whitepaper outlines key advantages of mutualization including improved efficiency and reduced transformation risk, driven by factors like cost pressures and regulatory changes. It serves as a roadmap for firms aiming to adopt this service delivery model, highlighting necessary elements and critical questions for executives.
Broadridge Financial Solutions, Inc. (NYSE: BR) has priced $1.0 billion of 2.600% senior notes due 2031 to offset a portion of its $2.55 billion term credit agreement debt. The offering is registered under the Securities Act of 1933. Major banks including J.P. Morgan and BofA Securities are leading the joint book-running for this offering. Broadridge, a global Fintech leader, generates over $4.5 billion in revenue and underpins daily transactions exceeding $10 trillion. The funds will also be used for general corporate purposes.
Broadridge Financial Solutions reported solid financial results for Q3 and nine months ended March 31, 2021. Total revenues increased by 11% to $1.39 billion, with recurring fee revenues rising 8% to $900 million. Operating income rose by 6% to $239 million, though the operating margin slightly decreased. Adjusted EPS increased by 5% to $1.76, with a notable 20% rise in adjusted operating income. The company raised guidance for recurring revenue growth to 8-10% and adjusted EPS growth to 11-13%, reflecting strong performance and strategic investments, including the pending acquisition of Itiviti.
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Broadridge Financial Solutions (NYSE: BR) has announced a partnership with FundApps to integrate regulatory compliance technology into its portfolio and order management solution. This integration aims to streamline operational challenges for clients, including enhanced shareholder disclosures and compliance monitoring. Clients, such as BennBridge, highlight the benefits of automating compliance processes to focus on core business functions. The collaboration addresses the complexities of global regulatory compliance and aims to reduce reporting times while helping firms avoid fines and reputational risks.
On April 22, 2021, AllianceBernstein made history in fixed income trading by executing a significant block trade through Broadridge's LTX platform. This marked the first instance of a buy-side firm receiving aggregated liquidity from multiple buyers in real time. The innovation allows asset managers to trade large blocks of bonds more efficiently by leveraging LTX's RFX protocol, which optimizes buyer matching and enhances liquidity. Since January 2021, over 10 dealers and 40 asset managers have joined the platform, reflecting its growing influence in the bond market.