Shutterstock, Inc. (NYSE:SSTK) to Issue Quarterly Dividend of $0.36

Shutterstock, Inc. (NYSE:SSTK) declared a quarterly dividend on Monday, April 20th. Shareholders of record on Thursday, June 4th will be given a dividend of 0.36 per share by the business services provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Thursday, June 4th.

Shutterstock has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Shutterstock has a dividend payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Shutterstock to earn $2.50 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 57.6%.

Shutterstock Price Performance

Shutterstock stock traded up $0.36 during mid-day trading on Tuesday, reaching $18.02. 168,517 shares of the company were exchanged, compared to its average volume of 298,338. The company has a fifty day simple moving average of $16.76 and a 200-day simple moving average of $19.27. Shutterstock has a 12 month low of $14.36 and a 12 month high of $29.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $640.43 million, a PE ratio of 13.98 and a beta of 1.18.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, February 17th. The business services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38). Shutterstock had a return on equity of 16.13% and a net margin of 4.60%.The company had revenue of $220.22 million for the quarter, compared to the consensus estimate of $252.28 million. During the same quarter last year, the business earned $0.67 EPS. Shutterstock’s revenue was down 12.0% on a year-over-year basis. As a group, equities research analysts expect that Shutterstock will post 2.73 earnings per share for the current fiscal year.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.