Trading market operator Nasdaq announced a stock split and raised its common quarterly dividend by 11%, according to a news release by Nasdaq on Wednesday.
The board of Nasdaq raised the quarterly dividend by 11% to 60 cents per share from 54 cents and plans a 3-for-1 stock split.
The new quarterly payout equals $2.40 per year, representing an annual yield of nearly 1.33% depending on Tuesday’s closing price of $181.04, up from 1.19%. The New York-based company stated that the increased dividend was payable on June 24 to shareholders of record on June 10.
Nasdaq stated it has started looking for necessary shareholder and SEC approvals to allow it to execute a 3-for-1 stock split, which it anticipates would occur in Q3.
The company posted mixed results in the first quarter. The profit stood at $1.70 per share, and earnings was at $1.97 per share.
The exchange operator reported revenue of $1.54 billion in the period, missing the estimate of $892M by StreetAccount analysts.