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CBOE Holdings, Inc. Board Increases Quarterly Dividend; Extends Share Repurchase Program (pdf, 15KB, opens in a new window) Print

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CBOE Holdings, Inc. Board Increases Quarterly Dividend; Extends Share Repurchase Program

July 31, 2012

CBOE Holdings

CHICAGO, July 31, 2012 /PRNewswire/ -- CBOE Holdings, Inc. (Nasdaq: CBOE) today announced that its Board of Directors approved a 25-percent increase to its quarterly cash dividend to $0.15 per share from $0.12 per share and authorized the company to repurchase an additional $100 million of its outstanding unrestricted common stock. 

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The share repurchase authorization is in addition to any unused amount remaining under the existing $100 million share repurchase authorized in August 2011.  As of July 31, 2012, there was approximately $3.3 million remaining under the prior authorization, and the company had approximately 87.3 million shares of unrestricted common stock outstanding.

The dividend increase is effective with the third quarter dividend payable on September 21, 2012 to stockholders of record on August 31, 2012.

"These Board actions confirm our ongoing commitment to enhance stockholder returns and demonstrate confidence in our ability to continue to generate strong cash flows.  The combination of dividends and share repurchases provides us flexibility in evaluating our capital allocation alternatives going forward, which is particularly important in light of impending tax law changes," said William Brodsky, Chairman and CEO of CBOE Holdings. "We will continue to prioritize our capital requirements first, to provide the funds needed to support the growth of our business, and then explore other alternatives to deliver sustainable value to our stockholders."

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.

About CBOE Holdings

CBOE Holdings, Inc. is the holding company for Chicago Board Options Exchange (CBOE), C2 Options Exchange and other subsidiaries.  CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF options, including proprietary products, such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX). 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 is home to the world-renowned Options Institute and www.cboe.com, named "Best of the Web" for options information and education. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.

Forward-Looking Statements

Certain information contained in this news release may constitute forward-looking statements, such as statements relating to projected amount of repurchased stock. We wish to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.

CBOE-F

CBOE®, Chicago Board Options Exchange®, CBOE Volatility Index®,  FLEX®, Hybrid®, LEAPS® and VIX® are registered trademarks, and BuyWrite, BXM(SM), SPX(SM) and The Options Institute(SM) are service marks of Chicago Board Options Exchange, Incorporated (CBOE). C2(SM), C2 Options Exchange(SM) and SPXpm(SM) are service marks of C2 Options Exchange, Incorporated (C2).  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 C2.  

SOURCE CBOE Holdings, Inc.

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