Nasdaq, Inc.’s (Nasdaq: NDAQ) Board of Directors has approved and declared a 3-for-1 stock split of the company’s common stock in the form of a stock dividend.
In addition, the board approved a regular quarterly dividend of $0.20 per share on the company’s outstanding common stock, which is economically equivalent to the $0.60 per share paid in the preceding quarter on a split-adjusted basis.
On April 20, 2022, Nasdaq announced that its Board of Directors approved pursuing a three-for-one stock split in the form of a stock dividend, subject to the adoption of an amendment to the company’s Amended and Restated Certificate of Incorporation to increase Nasdaq’s authorized shares of common stock by both its shareholders and the Securities and Exchange Commission (“SEC”).
The proposed amendment to increase the authorized shares of common stock in order to effect the stock split in the form of a stock dividend was approved by Nasdaq shareholders and the SEC in June.
The Board declared a stock dividend with a 3-for-1 stock split, entitling each shareholder of record to two additional shares of common stock for every one share owned.
The stock dividend record date is August 12, 2022, with the new shares distributed on August 26, 2022. On August 29, 2022, trading will begin on a split-adjusted basis.
Revenues on The Rise
Net revenues1 increased by 6% in the second quarter of 2022 compared to the second quarter of 2021. Revenues from solutions segments2 increased 10%, with organic growth of 12% partially offset by a negative 2% FX impact.
Annualized Recurring Revenue (ARR)3 increased by 9% in the second quarter of 2021. Annualized SaaS revenues increased by 12% and accounted for 35% of total ARR.
GAAP diluted earnings per share in the second quarter of 2022 fell 10% from the second quarter of 2021, owing primarily to a gain on a divestiture in the prior year period. Non-GAAP4 diluted earnings per share in the second quarter of 2022 increased by 9% compared to the second quarter of 2021.
The company returned $819 million to shareholders in the first six months of 2022, including $633 million in share repurchases and $186 million in dividends.
Disclaimer:
All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.
