SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) has announced the renewal of its stock repurchase program, authorizing the company to repurchase up to $1.5 billion in aggregate of its outstanding shares of common stock. This represents a 50% increase compared to the previous authorization.
The company's management will determine the timing and amount of any shares repurchased based on its evaluation of market conditions and other factors. Repurchases may be made from time to time in one or more transactions on the open market or in privately negotiated purchases, and may also be executed through other legally permissible means. Additionally, the repurchase program may be suspended or discontinued at any time.
SS&C's board of directors also approved a quarterly dividend payout of $0.25 per share, consistent with its quarterly dividend policy. The dividend is payable on June 16, 2025, to stockholders of record as of the close of business on June 2, 2025.
Bill Stone, Chairman and CEO of SS&C Technologies, emphasized the company's strong business model and its commitment to maximizing shareholder value. He stated that SS&C will use its cash flow to opportunistically repurchase stock and pay down debt, while maintaining the flexibility to pursue high-quality acquisitions.
SS&C Technologies Holdings, Inc. is a global provider of services and software for the financial services and healthcare industries. With its headquarters in Windsor, Connecticut, the company serves more than 22,000 financial services and healthcare organizations worldwide.
This announcement reflects SS&C's strategic focus on capital allocation to enhance shareholder value, and its confidence in the company's financial strength and future prospects. Today the company's shares have moved 0.47% to a price of $78.90. Check out the company's full 8-K submission here.
