CHICAGO, Aug. 2, 2011 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE) today announced that its Board of Directors approved a share repurchase program that authorizes the company to purchase up to $100 million of its unrestricted common stock.
The Board also declared a quarterly dividend of $0.12 per share, reflecting a $0.02, or 20 percent, increase over the previous quarter's dividend. The dividend is payable September 23, 2011 to stockholders of record on September 2, 2011.
"These actions reflect our confidence in the long-term growth of the company and our commitment to returning capital to stockholders," said William Brodsky, Chairman and CEO of CBOE Holdings. "Our strong balance sheet and healthy cash flow enable the company to return surplus cash to stockholders through dividends and share repurchases while continuing to invest in growth initiatives."
The program permits the company to purchase shares through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the corporation to make any repurchases at any specific time or situation. The timing and extent to which the company repurchases its shares will depend upon, among other things, market conditions, share price, liquidity targets, regulatory requirements and other factors. Share repurchases may be commenced or suspended at any time or from time to time without prior notice.
As of August 2, 2011, CBOE Holdings