CBOE Holdings Declares Special Dividend And Increases Stock Repurchase
CHICAGO, Dec. 10, 2013
CHICAGO, Dec. 10, 2013 /PRNewswire/ -- CBOE Holdings, Inc. (NASDAQ: CBOE)
announced today that its Board of Directors has declared a special cash
dividend of $0.50 per share of common stock. The special dividend will be
paid on January 17, 2014 to stockholders of record at the close of business on
January 3, 2014.
The company's Board of Directors also authorized the company to repurchase an
additional $100 million of its outstanding common stock, to be used in
addition to any unused amount remaining under prior authorizations. The new
authorization brings the total amount available for stock repurchases to
approximately $167 million at December 9, 2013. The company had approximately
87 million shares of common stock outstanding at December 9, 2013.
"We are pleased to return capital to stockholders through a special dividend
and an increased share repurchase authorization. Both actions reflect our
continued commitment to create value for stockholders and the Board's
confidence in our ability to generate cash while retaining the financial
flexibility to support our plans for future growth,'' said Edward T. Tilly,
CBOE Holdings CEO.
"We take a disciplined approach to managing cash, looking first to fund the
growth of our business, then to return capital to our stockholders through
sustainable quarterly dividends and share repurchases. While this special
dividend should not be viewed as a recurring event, our Board will continue to
consider all capital allocation alternatives," Tilly added.
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.
Certain information contained in this news release may constitute
forward-looking statements. We caution readers not to place undue reliance on
any forward-looking statements, which speak only as of the date made, and are
subject to a number of risks and uncertainties
About CBOE Holdings:
CBOE Holdings, Inc. (NASDAQ: CBOE) is the holding company for Chicago Board
Options Exchange (CBOE), the CBOE Futures Exchange (CFE) and other
subsidiaries. CBOE, the largest U.S. options exchange and creator of listed
options, continues to set the bar for options and volatility trading through
product innovation, trading technology and investor education. CBOE Holdings
offers equity, index and ETP options, including proprietary products, such as
S&P 500 options (SPX), the most active U.S. index option, and options and
futures on the CBOE Volatility Index (the VIX Index). Other products
engineered by CBOE include equity options, security index options, LEAPS
options, FLEX options, and benchmark products such as the CBOE S&P 500
BuyWrite Index (BXM). CBOE Holdings is home to the world-renowned Options
Institute and www.cboe.com, the go-to place for options and volatility trading
CBOE^®, Chicago Board Options Exchange^®, CBOE Volatility Index^®, CFE^®,
FLEX^®, LEAPS^® and VIX^® are registered trademarks, and BuyWrite, BXM^SM,
CBOE Futures Exchange^SM, Execute Success^SM, SPX^SM and The Options
Institute^SM are service marks of Chicago Board Options Exchange, Incorporated
(CBOE). Standard & Poor's^®, S&P^® and S&P 500^® are registered trademarks of
Standard & Poor's Financial Services, LLC and have been licensed for use by
CBOE and CFE.
SOURCE CBOE Holdings, Inc.
Contact: Media, Gail Osten, (312) 786-7123, email@example.com, or Gary Compton,
(312) 786-7612, firstname.lastname@example.org, or Analyst, Debbie Koopman, (312) 786-7136,
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