Fidelity National Information Services (FIS) Raises Quarterly Dividend 11.4% to $0.39, 1.3% Yield; Announces Share Buyback

February 1, 2021 8:11 AM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Fidelity National Information Services (NYSE: FIS) declared a quarterly dividend of $0.39 per share, or $1.56 annualized. This is an 11.4% increase from the prior dividend of $0.35.

The dividend will be payable on March 26, 2021, to stockholders of record on March 12, 2021, with an ex-dividend date of March 11, 2021.

The annual yield on the dividend is 1.3 percent.

“We believe that FIS shares are trading well below intrinsic value and that repurchasing shares of FIS is a good use of capital at this time. Our strong business fundamentals and robust free cash flow enable us to continue investing for growth, both organically and through M&A, while continuing to pay down debt to meet our leverage target and return capital to our shareholders,” said Gary Norcross, FIS chairman, president and chief executive officer. “The Board’s decision to approve a new share repurchase program in conjunction with an increase in our quarterly dividend reflects continued confidence in the strength of our financial position, the durability of our business model and the future of FIS.”

Share Buyback

Repurchases may be made at management’s discretion from time to time on the open market, through privately negotiated transactions and through Rule 10b5-1 plans. The repurchase program has no time limit and may be suspended for periods, amended or discontinued at any time. Any shares acquired will be available for general corporate purposes.

For a dividend history and other dividend-related data on Fidelity National Information Services (FIS) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Dividend Hike, Dividends, Stock Buybacks

Related Entities

Dividend, Stock Buyback