DST Systems (DST) Raises Quarterly Dividend to 36c, Approves $300M Buyback and 2-for-1 Common Stock Split

DST Systems (NYSE: DST) declared a quarterly dividend of $0.36 per share, or $1.44 annualized. This is a 2.9% increase from the prior dividend of $0.35.

The dividend will be payable on June 9, 2017, to stockholders of record on May 26, 2017, with an ex-dividend date of May 24, 2017.

The annual yield on the dividend is 1.2 percent.

DST Systems, Inc. (NYSE: DST) announced today that its Board of Directors approved a new $300 million program to repurchase shares of DST's Common Stock. The Company's previous $300 million share repurchase programs were completed in April 2017. Repurchases under the Company's new program will be made in open market or privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors. This share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be suspended at any time at the Company's discretion. DST had approximately 30,881,651 shares of Common Stock outstanding as of April 28, 2017.

The Board of Directors also approved a two-for-one split of DST's Common Stock. The stock split will be a stock dividend payable on June 8, 2017 to shareholders of record at the close of business May 26, 2017. Upon completion of the split, the outstanding shares of DST's Common Stock will increase to approximately 61,763,302 based on the outstanding shares as of April 28, 2017. The Company expects its common stock to begin trading at the split-adjusted price on June 9, 2017.

For a dividend history and other dividend-related data on DST Systems (DST) click here.

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