SS&C Technologies (SSNC) hikes dividend for 8th consecutive year

SS&C Technologies Holdings (SSNC) announced a 4.2% dividend hike to 25 cents quarterly per share on August 21, 2024. This marks 8 consecutive years of dividend increases by SSNC. The dividend yield is 1.4%.

SSNC announced that 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. In 2023 SSNC hiked its dividend by 20%.

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."

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.