Cboe Global Markets Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange-holding companies, today announced its Board of Directors has declared an increased quarterly cash dividend of $0.31 per share of common stock for the third quarter of 2018, representing a 15% increase compared with the prior quarter's dividend of $0.27 per share, and increased its share repurchase authorization by $100 million.
The third-quarter 2018 dividend is payable on Sept. 14, 2018, to stockholders of record as of Aug. 31, 2018.
Including the additional share repurchase authorization of $100 million, the company had approximately $225 million of availability remaining under its existing share repurchase authorization as of August 1, 2018. Year-to-date through July 31, 2018, the company has repurchased 1.1 million shares, for a total of approximately $122 million.
"The increase in our dividend and share repurchase authorization reflects our Board of Directors' confidence in the future cash-flow generating capabilities of our business and in maintaining our focus on efficiently allocating capital to create long-term shareholder value," said Ed Tilly, Cboe Global Markets Chairman and Chief Executive Officer.
The share repurchase program has no expiration date. The repurchase 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.
Cboe Global Markets Inc. (Cboe: CBOE | Nasdaq: CBOE) offers cutting-edge trading and investment solutions to investors around the world. The company is committed to relentless innovation, connecting global markets with world-class technology, and providing seamless solutions that enhance the customer experience.
Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global foreign exchange (FX) and multi-asset volatility products based on the Cboe Volatility Index (VIX Index), the world's barometer for equity market volatility.