- Increases share repurchase authorization by $500 million
- Increased quarterly cash dividend to $0.63 per share
- 14th consecutive year Cboe has increased its dividend
Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced its Board of Directors has authorized the company to repurchase up to an additional $500 million of its outstanding common stock and declared an increased quarterly cash dividend of $0.63 per share of common stock for the third quarter of 2024.
The increased third-quarter 2024 dividend, representing a 15 percent increase from the prior quarter's dividend of $0.55 per share, is payable on September 13, 2024, to stockholders of record as of August 30, 2024.
As of July 31, 2024, the Company had $179.8 million of availability remaining under its existing share repurchase authorizations.
"The share repurchase authorization increase and increased quarterly dividend are testaments to management and the Board of Directors' confidence in the performance of Cboe's global business lines and adherence to a disciplined capital allocation program. Cboe's balance sheet is strong and has us well-positioned to continue investing in the long-term growth of our business while also returning capital to our shareholders," said Fred Tomczyk, Chief Executive Officer of Cboe Global Markets.
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 company 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.
