CME Group (CME) Approves $1.1 Billion Stock Buyback and Special Cash Dividend

June 23, 2008 8:04 AM EDT

CME Group (NYSE: CME) has authorized new initiatives to return capital to shareholders while continuing to aggressively execute its global growth strategy. The initiatives include a share buyback program of up to $1.1 billion of CME Group Class A common stock, subject to market conditions. The buyback program will take place over a period of up to 18 months. The board's authorization permits the repurchase of shares through the open market, an accelerated program, a tender offer or privately negotiated transactions.

In addition, CME Group intends to declare a special dividend of $5.00 per common share, following the resolution of the company's pending NYMEX transaction.

"With the completion of the merger with CBOT and the pending acquisition of NYMEX, our need to significantly build cash balances has changed," said CME Group Chief Executive Officer Craig Donohue. "Today's initiatives positively address the interests of our shareholders, while allowing us to successfully complete our pending acquisition of NYMEX in a highly disciplined fashion. CME Group will continue to take advantage of the many growth opportunities we are pursuing globally through product innovation, increased distribution, over- the-counter initiatives, and additional strategic partnerships such as our agreement with BM&F Bovespa."

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Dividends
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