SS&C Increases Common Stock Dividend to $0.25 Per Share

Rhea-AI Summary

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced an increase in its quarterly dividend from $0.24 to $0.25 per share. The dividend will be payable on September 16, 2024, to stockholders of record as of September 3, 2024. This decision reflects the company's strong financial performance, with net cash from operating activities reaching $385 million in the second quarter, a 16.8% increase year-over-year. CEO Bill Stone emphasized the company's commitment to creating long-term shareholder value through prudent cash flow management and strategic capital allocation.

Positive

• Increased quarterly dividend from $0.24 to $0.25 per share
• Net cash from operating activities grew 16.8% year-over-year to $385 million in Q2
• Demonstrates commitment to returning value to shareholders

Negative

• None.

News Market Reaction

-0.16%

1 alert

-0.16% News Effect

On the day this news was published, SSNC declined 0.16%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

WINDSOR, Conn., Aug. 21, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced its Board of Directors has approved a quarterly dividend payout of $0.25 per share, up from $0.24 per share. The dividend is payable on September 16, 2024, to stockholders of record as of the close of business on September 3, 2024.

Bill Stone, Chairman and CEO, commented: "SS&C continues to grow, generating net cash from operating activities of $385 million in the second quarter – up 16.8% from the same period a year ago. Our goal is to create long-term shareholder value, which includes increases to our dividend as part of our capital allocation strategy. SS&C sees many opportunities ahead, and we will continue to exercise prudent cash flow management."

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the new quarterly dividend for SS&C Technologies (SSNC)?

SS&C Technologies (SSNC) has increased its quarterly dividend to $0.25 per share, up from $0.24 per share.

When will SS&C Technologies (SSNC) pay its next dividend?

SS&C Technologies (SSNC) will pay its next dividend on September 16, 2024, to stockholders of record as of the close of business on September 3, 2024.

How much did SS&C Technologies' (SSNC) net cash from operating activities grow in Q2 2024?

SS&C Technologies' (SSNC) net cash from operating activities grew by 16.8% year-over-year, reaching $385 million in the second quarter of 2024.

Why did SS&C Technologies (SSNC) increase its dividend?

SS&C Technologies (SSNC) increased its dividend as part of its capital allocation strategy to create long-term shareholder value, reflecting the company's continued growth and strong cash flow generation.