Shutterstock Increases Quarterly Dividend by 14% to $0.24 per share
New York, NY - January 25, 2022 - Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and applications for brands, businesses and media companies, today announced that its Board of Directors has declared a cash dividend of $0.24 per share of outstanding common stock on January 24, 2022, payable on March 17, 2022, to stockholders of record at the close of business on March 3, 2022. This represents an increase of approximately 14% over the previous quarterly dividend of $0.21 per share of outstanding common stock.
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.”
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is the leading global creative platform for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock's comprehensive collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. Working with its growing community of over 2 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 405 million images and more than 25 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The Company also owns Splash News, the world’s leading entertainment news agency for newsrooms and media companies worldwide, Pond5, the world’s largest video marketplace, TurboSquid, the world's largest 3D content marketplace;, 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; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented stock media offering.