Shutterstock Board Approves Stock Repurchase Program - Quick Facts

(RTTNews) - Shutterstock, Inc. (SSTK) said its Board of Directors has approved a stock repurchase program, pursuant to which the company is authorized to purchase up to $100 million of its common stock. The company expects to fund repurchases through a combination of cash on hand, cash generated by operations and future financing transactions.

"Given our strong free cash flow generation and healthy balance sheet, Shutterstock is uniquely positioned as a technology company to be able to invest for organic and inorganic growth while also consistently returning value to shareholders through a mix of dividends and share buybacks," said Paul Hennessy, CEO of Shutterstock.