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

Key Points

• Shutterstock announced a quarterly dividend of $0.36 per share, payable June 18 to shareholders of record on June 4, implying a yield of about 8.0%.
• The company has raised its dividend each year for six years and has a payout ratio of ~54.1%, with analysts forecasting ~$2.50 EPS next year that would support the $1.44 annualized dividend (expected payout ~57.6%).
• In the most recent quarter Shutterstock missed EPS (reported $0.67 vs. $1.05 est.) and revenue fell ~12% year-over-year to $220.2M; shares trade around $17.98 with a market cap near $639M and a P/E of ~13.9.

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) announced a quarterly dividend on Monday, April 20th. Investors 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 is Thursday, June 4th.

Shutterstock has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 6 years. Shutterstock has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Equities 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

NYSE SSTK traded up $0.32 on Tuesday, reaching $17.98. The company's stock had a trading volume of 151,894 shares, compared to its average volume of 298,140. The firm has a market cap of $639.19 million, a PE ratio of 13.94 and a beta of 1.18. Shutterstock has a 52 week low of $14.36 and a 52 week high of $29.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $16.76 and a 200 day moving average price of $19.27.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $220.22 million during the quarter, compared to analyst estimates of $252.28 million. Shutterstock had a net margin of 4.60% and a return on equity of 16.13%. Shutterstock's quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. Sell-side analysts expect that Shutterstock will post 2.73 EPS for the current 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.

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