.jpg)
The NASDAQ OMX Group, Inc. ("NASDAQ OMX®") (Nasdaq:NDAQ) today announced plans to initiate a quarterly cash dividend.
The board of directors approved an initial quarterly cash dividend of $0.13 per share on NASDAQ OMX's outstanding common stock to be paid on June 29, 2012 to all stockholders of record on June 15, 2012. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by NASDAQ OMX's board of directors. This is the first dividend paid to stockholders in the company's history.
Bob Greifeld, Chief Executive Officer, NASDAQ OMX said: "We are pleased to take this important step for NASDAQ OMX. Our decision to put a dividend in place reflects the strong cash flow and capital generation of our business and our commitment to deliver meaningful capital returns to our shareholders through both dividends and continued share repurchases."
Lee Shavel, NASDAQ OMX's EVP and Chief Financial Officer, said: "NASDAQ OMX has done an outstanding job of capital deployment in recent years. Since January 2009, the company has repurchased approximately $950 million of its outstanding common stock, representing 43.7 million shares at an average price of $21.66. The company also paid down more than $500 million of debt, significantly reducing our interest burden and increasing our financial flexibility for the future. In addition, we have invested over $200 million in attractive acquisitions that enhance our long-term growth and capital return profile. We believe that our strong cash flows give us ample capacity to fund our dividend, while maintaining considerable flexibility to achieve our other corporate goals."
