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CBOE Holdings (NASDAQ: CBOE) today announced that its Board of Directors has declared a special cash dividend of $0.75 per share on its common stock. The dividend will be paid on December 28, 2012 to stockholders of record on December 21, 2012.
The special dividend is in addition to the Company's regular fourth-quarter cash dividend of $0.15 per share that was declared on October 30, 2012. The regular dividend will be paid on December 21, 2012 to stockholders of record on November 30, 2012.
"We are pleased to be in a position to pay a special dividend, which reflects our commitment to return excess cash to stockholders and the continued success of our Company. Our Board believes that paying the special dividend at this time represents a tax-efficient way to return value to stockholders given the uncertainty regarding future tax rates on dividends," said William J. Brodsky, CBOE Holdings Chairman and CEO.
"The company's solid, debt-free balance sheet and strong cash generation allows us to pay the estimated $66.6 million of special dividends from cash on hand while maintaining the flexibility to continue to invest in our business and pursue dividend and share repurchase activities," Brodsky added.
