FactSet Research Systems Raises Dividend, Expands Buyback Program
FactSet Research Systems has discovered the value of returning more money to shareholders. The company declared a quarterly dividend of $0.35 per share of its common stock, to be handed out on June 18 to shareholders of record as of May 31. This amount represents a 13% increase over the previous distribution of $0.31, which was paid in each of the firm's preceding four quarters.
FactSet, a habitual dividend payer, tends to boost its distribution once per year. Since early 2005, that payout has climbed steadily from $0.05 per share to the current level.
The new dividend annualizes to $1.40 per share. That yields 1.4% at FactSet's current stock price of $97.68.
The company also authorized an expansion to its existing share repurchase program. This will be widened by $200 million. As of the end of February, the program's authorization amount stood at $55.5 million.
The article FactSet Research Systems Raises Dividend, Expands Buyback Program originally appeared on Fool.com.
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