Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, today announced that its Board of Directors has increased its share repurchase authorization by $250 million, and also declared a quarterly cash dividend of $0.36 per share of common stock for the third quarter of 2019.
The third-quarter 2019 dividend is payable on December 13, 2019, to stockholders of record as of November 27, 2019.
The increased share repurchase authorization underscores the company's confidence in its future cash flow generation. With this increase, the company had approximately $313 million of availability remaining under its share repurchase program as of October 30, 2019. Year-to-date through October 30, 2019, the company has repurchased 1.3 million shares, for a total of approximately $142 million.
"We are pleased to return capital to our shareholders through both annual increases of our dividend payments and disciplined share repurchases. This additional share repurchase authorization demonstrates the board's commitment to and confidence in Cboe's ability to continue to create shareholder value as we execute on our strategic growth initiatives," said Ed Tilly, Cboe Global Markets Chairman, President 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.
