SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) has announced a significant increase in its stock repurchase program, growing it by 50% to $1.5 billion compared to the previous year. This renewed program aims to maximize stockholder value and will allow the company to repurchase its outstanding shares of common stock through various means, including open market transactions and privately negotiated purchases. The timing and amount of repurchases will be determined based on market conditions and other factors.
The company's management expressed confidence in SS&C's financial strength and future prospects, believing that the current share price undervalues the company. Bill Stone, Chairman and CEO of SS&C Technologies, emphasized that capital allocation to maximize shareholder value remains a top priority. The company plans to utilize its cash flow to opportunistically repurchase stock and pay down debt while maintaining flexibility to pursue high-quality acquisitions.
In addition to the stock repurchase program, the board of directors approved a quarterly dividend payout of $0.25 per share, consistent with its quarterly dividend policy. The dividend is set to be paid on June 16, 2025, to stockholders of record as of the close of business on June 2, 2025.
SS&C Technologies Holdings, Inc. is a global provider of services and software for the financial services and healthcare industries, serving over 22,000 organizations worldwide. Founded in 1986 and headquartered in Windsor, Connecticut, the company operates offices across the globe.
For more information about SS&C Technologies Holdings, Inc. (NASDAQ: SSNC), visit www.ssctech.com. The market has reacted to these announcements by moving the company's shares 1.29% to a price of $79.92. Check out the company's full 8-K submission here.
