Jack Henry to pay out $35M to shareholders

Jack Henry & Associates Inc. (Nasdaq: JKHY) increased its quarterly dividend by 7%.

Kevin Williams, the company's chief financial officer, said via email the dividend payment of 46 cents per share equates to roughly $35 million.

"Our company continues to have strong organic growth and cash flows, even with our continued investments in our company through capital expenditures and research and development initiatives," Williams said in a news release. "This increase in our dividend authorization evidences our continued confidence that these trends will continue and our commitment to deploy our cash to the benefit of our shareholders."

The dividend is payable on March 25 to shareholders of record as of March 8. As of Feb. 10, the company had roughly 76 million outstanding shares.

The Monett-based financial software firm earlier this month reported fiscal second quarter net income of $72 million on revenue of $422.4 million. Both figures were roughly flat from a year earlier.

JKHY shares were trading at $148.68 as of 11:17 a.m., compared with a 52-week range of $123.64 to $200.98 per share.