"The Board believes that owners of our company should receive a quarterly share of CME's profits through a regular dividend," said Chairman Terry Duffy. "In addition, we plan to continue investing in our business, particularly in technology and product innovation."
"Our Board's decision to begin paying a quarterly dividend reflects our confidence in CME's business plans and strategies, as well as our commitment to manage this company for the long-term benefit of our shareholders," said President and Chief Executive Officer Jim McNulty.
Following a policy that was announced before CME completed its initial public offering in December 2002, the Board has authorized the dividend based on prior year cash earnings. The amount of each quarterly dividend remains within the discretion of the Board and may be affected by various factors, including the company's earnings, financial condition, capital requirements, level of indebtedness and other considerations the Board deems relevant.
Chicago Mercantile Exchange Holdings Inc. is the parent company of Chicago Mercantile Exchange Inc. (www.cme.com), the largest futures exchange in the United States based on notional value, trading volume and open interest. On Dec. 6, 2002, CME Holdings and its subsidiary became the first publicly traded U.S. financial exchange. As an international marketplace, CME brings together buyers and sellers on its trading floors and GLOBEX® around-the-clock electronic trading platform. CME offers futures contracts and options on futures primarily in four product areas: interest rates, stock indexes, foreign exchange and commodities. The exchange moves about $1.8 billion per day in settlement payments and manages $27.4 billion in collateral deposits.
