Shutterstock Hikes Quarterly Dividend By 13%

January 31, 2023 10:45 AM | 1 min read | Make a Comment

Shutterstock, Inc SSTK boosts quarterly dividend per share by 12.5% year-on-year to $0.27.
CEO Paul Hennessy said, "The Board's decision to increase the quarterly dividend for the third consecutive year demonstrates the success we have had in driving margin expansion and the confidence we have in our future cash flows, and I am pleased that we are able to continue fulfilling our commitment to return value to stockholders."
Shutterstock's free cash flow decreased 52% Y/Y to $21.4 million during the third quarter ended September 30.
Shutterstock held $76.2 million in cash and equivalents.
Price Action: SSTK shares traded higher by 6.76% at $77.19 on the last check Tuesday.