SS&C Increases Its Common Stock Dividend to $0.14 Per Quarter

Rhea-AI Summary

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced a quarterly dividend increase from $0.125 to $0.14 per share, payable on September 15, 2020, to shareholders of record by September 1, 2020. The company expects to generate over $1 billion in operating cash flow for 2020, reflecting a 30% compound annual growth rate over the past decade. CEO Bill Stone emphasized effective capital allocation, focusing on shareholder returns through increased dividends, stock buybacks, and debt repayment.

Positive

• Quarterly dividend increased from $0.125 to $0.14 per share.
• Expecting over $1 billion in operating cash flow for 2020.
• 30% compound annual growth rate in operating cash flow over the past 10 years.
• Strong focus on shareholder returns through dividends and buybacks.

Negative

• None.

News Market Reaction – SSNC

+0.59%

1 alert

+0.59% News Effect

On the day this news was published, SSNC gained 0.59%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WINDSOR, Conn., Aug. 19, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that its Board of Directors has approved a quarterly dividend payout of $0.14 per share, up from $0.125 per share. This is payable on September 15, 2020, to stockholders of record as of the close of business on September 1, 2020.

Bill Stone, Chairman and CEO, commented: "SS&C is a strong company with powerful cash flow characteristics. We expect in 2020 to generate over $1 billion in operating cash flow, which represents a 30.0% compound annual growth rate over the past 10 years. Effective capital allocation is core to SS&C's strategy, and we prioritize shareholder returns. In the absence of high quality acquisitions at a fair price, we will increase cash dividends, allocate more capital towards stock buybacks, and continue to pay down debt."

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 18,000 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.

SOURCE: SS&C

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 dividend amount for SSNC?

SS&C Technologies has increased its quarterly dividend to $0.14 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on September 15, 2020, to shareholders who are on record as of September 1, 2020.

How much operating cash flow does SSNC expect in 2020?

SS&C anticipates generating over $1 billion in operating cash flow for 2020.

What is the compound annual growth rate of SSNC's operating cash flow?

The company reports a 30% compound annual growth rate in operating cash flow over the last 10 years.

What is SSNC's focus regarding capital allocation?

SS&C focuses on shareholder returns, increasing dividends, stock buybacks, and debt repayment.