Cboe announces additional $150 million in share repurchase authorization

Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE) announced today that its Board of Directors has authorized the company to repurchase up to an additional $150 million of its outstanding common stock, effective immediately. 

This increased share repurchase authorization will be added to the approximately $75 million of availability remaining as of today's market close, under the company's existing share repurchase authorization. The company had $97 million remaining under its share repurchase authorization at December 31, 2017.     

"We are pleased that our company's strong balance sheet and cash flow enable us to simultaneously return value to shareholders through opportunistic share repurchases and our planned regular quarterly dividend while at the same time continuing to reduce debt and invest in the growth of our business to drive long-term shareholder value," said Edward Tilly, Chairman and Chief Executive Officer. "The Board of Directors and management team believe that at the current valuation, the purchase of our own stock is an appropriate use of our cash and this additional authorization demonstrates our confidence in Cboe's future growth and our commitment to shareholders."

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 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.  The company had approximately 112.7 million fully diluted shares of common stock outstanding as of December 31, 2017.