Broadridge Financial Solutions shares rose after the company reported higher fiscal fourth-quarter earnings and revenue.

The stock was 7% higher, at $168.89, in midday trade, but is down 32% in the past 12 months.

The manager and distributor of investor communications said it had quarterly earnings of $398 million, or $3.44 a share, compared with earnings of $374.2 million, or $3.16 a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $396.1 million, or $3.40 a share.

Revenue for the quarter was $2.22 billion, compared with last year's $2.07 billion and the $2.17 billion analysts were expecting.

Adjusted earnings were $3.82 a share, compared with the $3.76 a share analysts had forecast.

The company said recurring-revenue growth in constant currency was 8%, driven by organic growth in its investor-communication-solutions and global-technology and operations units. Event-driven revenue decreased $8 million, or 10%, to $71 million, primarily due to lower mutual fund proxy revenue.

Also Tuesday, the company said its board raised its quarterly dividend by 12%, to $1.09 from 97.5 cents, and approved a new $1.5 billion share-repurchase program.

Broadridge said it expects fiscal 2027 recurring-revenue growth of 6% to 8%, and adjusted-earnings growth of 8% to 12%.