SS&C Technologies Holdings’ board of directors has approved a two-for-one stock split to boost liquidity and its stock price, company officials said.
SS&C, a Windsor-based provider of financial services software, said the stock split will be effected in the form of a stock dividend of one share of common stock for every share of common stock. The dividend will be distributed on or about June 24, to shareholders of record at the close of business on June 7.
For the first quarter, SS&C reported revenue of $324.1 million, operating income of $50.4 million, net income of $7 million and diluted earnings per share of 7 cents.
SS&C closed the acquisition of Citi Alternative Investor Services on March 11, for a purchase price of $321 million.
