CHICAGO, Dec. 11, 2012 /PRNewswire/ -- CBOE Holdings (NASDAQ: CBOE) today announced that its Board of Directors has declared a special cash dividend of $0.75 per share on its common stock. The dividend will be paid on December 28, 2012 to stockholders of record on December 21, 2012.
The special dividend is in addition to the Company's regular fourth-quarter cash dividend of $0.15 per share that was declared on October 30, 2012. The regular dividend will be paid on December 21, 2012 to stockholders of record on November 30, 2012.
"We are pleased to be in a position to pay a special dividend, which reflects our commitment to return excess cash to stockholders and the continued success of our Company. Our Board believes that paying the special dividend at this time represents a tax-efficient way to return value to stockholders given the uncertainty regarding future tax rates on dividends," said William J. Brodsky, CBOE Holdings Chairman and CEO.
"The company's solid, debt-free balance sheet and strong cash generation allows us to pay the estimated $66.6 million of special dividends from cash on hand while maintaining the flexibility to continue to invest in our business and pursue dividend and share repurchase activities," Brodsky added.
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 ETF 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 resources. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the OCC.
CBOE®, Chicago Board Options Exchange®, CFE®, FLEX®, LEAPS®, CBOE Volatility Index® and VIX® are registered trademarks, and BuyWriteSM, BXMSM, SPXSM, CBOE Futures ExchangeSM and The Options InstituteSM 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.
SOURCE CBOE Holdings