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.Fool contributor Eric Volkman has no position in FactSet Research Systems. The Motley Fool recommends FactSet Research Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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