- Increases share repurchase authorization by $250 Million
- Quarterly cash dividend of $0.55
per share
CHICAGO, Oct. 26,
2023 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe:
CBOE), the world's leading derivatives and securities exchange
network, today announced its Board of Directors has authorized the
company to repurchase up to an additional $250 million of its outstanding common stock and
declared a quarterly cash dividend of $0.55 per share of common stock for the fourth
quarter of 2023.
The fourth-quarter 2023 dividend is payable on December 15, 2023 to stockholders of record as of
November 30, 2023.
As of June 30, 2023, the company
had approximately $139.8 million of
availability remaining under its existing share repurchase
authorizations.
"Today's share repurchase authorization and dividend
announcement underscores Cboe's commitment to creating long-term
shareholder value through a variety of attractive capital
allocation strategies," said Fred
Tomczyk, Chief Executive Officer of Cboe Global Markets.
"The Board of Directors remains confident in the company's ability
to continue executing on our global strategy, while maintaining a
flexible balance sheet and strong cash flow generation capabilities
that position Cboe well into 2024 and beyond."
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 company 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.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), the world's leading
derivatives and securities exchange network, delivers cutting-edge
trading, clearing and investment solutions to people around the
world. Cboe provides trading solutions and products in multiple
asset classes, including equities, derivatives, FX, and digital
assets, across North America,
Europe and Asia Pacific. Above all, we are committed to
building a trusted, inclusive global marketplace that enables
people to pursue a sustainable financial future. To learn more
about the Exchange for the World Stage, visit www.cboe.com.
Media Contacts
|
|
Analyst Contact
|
Angela Tu
|
Tim Cave
|
|
Kenneth Hill, CFA
|
|
+1-646-856-8734
|
+44 (0)
7593-506-719
|
|
+1-312-786-7559
|
|
atu@cboe.com
|
tcave@cboe.com
|
|
khill@cboe.com
|
|
CBOE-D
CBOE-OE
Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX®
are registered trademarks of Cboe Exchange, Inc
Cautionary Statements Regarding Forward-Looking
Information
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 that involve a number of
risks and uncertainties. You can identify these statements by
forward-looking words such as "may," "might," "should," "expect,"
"plan," "anticipate," "believe," "estimate," "predict," "potential"
or "continue," and the negative of these terms and other comparable
terminology. All statements that reflect our expectations,
assumptions or projections about the future other than statements
of historical fact are forward-looking statements. These
forward-looking statements, which are subject to known and unknown
risks, uncertainties and assumptions about us, may include
projections of our future financial performance based on our growth
strategies and anticipated trends in our business. These statements
are only predictions based on our current expectations and
projections about future events. There are important factors that
could cause our actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible to predict all risks and uncertainties, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
Some factors that could cause actual results to differ
include: the loss of our right to exclusively list and trade
certain index options and futures products; economic, political and
market conditions; compliance with legal and regulatory
obligations; price competition and consolidation in our industry;
decreases in trading or clearing volumes, market data fees or a
shift in the mix of products traded on our exchanges; legislative
or regulatory changes or changes in tax regimes; our ability to
protect our systems and communication networks from security
vulnerabilities and breaches; our ability to attract and retain
skilled management and other personnel, including compensation
inflation; increasing competition by foreign and domestic entities;
our dependence on and exposure to risk from third parties; global
expansion of operations; factors that impact the quality and
integrity of our indices; our ability to manage our growth and
strategic acquisitions or alliances effectively; our ability to
operate our business without violating the intellectual property
rights of others and the costs associated with protecting our
intellectual property rights; our ability to minimize the risks,
including our credit and default risks, associated with operating a
European clearinghouse; our ability to accommodate trading and
clearing volume and transaction traffic, including significant
increases, without failure or degradation of performance of our
systems; misconduct by those who use our markets or our products or
for whom we clear transactions; challenges to our use of open
source software code; our ability to meet our compliance
obligations, including managing potential conflicts between our
regulatory responsibilities and our for-profit status; our ability
to maintain BIDS Trading as an independently managed and operated
trading venue, separate from and not integrated with our registered
national securities exchanges; damage to our reputation; the
ability of our compliance and risk management methods to
effectively monitor and manage our risks; restrictions imposed by
our debt obligations and our ability to make payments on or
refinance our debt obligations; our ability to maintain an
investment grade credit rating; impairment of our goodwill,
long-lived assets, investments or intangible assets; the impacts of
pandemics; the accuracy of our estimates and expectations;
litigation risks and other liabilities; and operating a digital
asset business and clearinghouse, including the expected benefits
of our Cboe Digital acquisition, cybercrime, changes in digital
asset regulation, losses due to digital asset custody, and
fluctuations in digital asset prices. More detailed information
about factors that may affect our actual results to differ may be
found in our filings with the SEC, including in our Annual Report
on Form 10-K for the year ended December 31,
2022 and other filings made from time to time with the
SEC.
We do not undertake, and we expressly disclaim, any duty to
update any forward-looking statement whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cboe-global-markets-announces-increase-in-share-repurchase-authorization-declares-fourth-quarter-2023-dividend-301969372.html
SOURCE Cboe Global Markets, Inc.