Shutterstock hikes dividend by 14.3%

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Shutterstock (SSTK) will raise its quarterly dividend by 14.3 percent to $0.24 per share in 2022. This follows a 23.5 percent dividend hike last year by the global creative platform offering full-service solutions, high-quality content, and applications for brands, businesses and media companies.

The next SSTK dividend is payable on March 17, 2022, to stockholders of record at the close of business on March 3, 2022. A new annual dividend rate of 96 cents per share yields 1% at a stock price of $94.44.

Commenting on the announcement, Stan Pavlovsky, the Company's Chief Executive Officer, said, "The Board's decision to increase the quarterly dividend shows the confidence we have in the trajectory of our business, and I am pleased that we are able to continue fulfilling our commitment to return value to stockholders."

Shutterstock, Inc. is a global creative platform offering full-service solutions, high-quality content, and applications for brands, businesses, and media companies. Directly and through its group subsidiaries, Shutterstock's collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. The Company also owns PicMonkey, a leading online graphic design and image editing platform; Offset, a high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial images and videos for the world's media; TurboSquid, a leading 3D content marketplace; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented stock media offering. Shutterstock started paying a dividend in 2020.

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