MSCI, Inc. (MSCI) Initiates Dividend Policy, Raises Stock Buyback Plan by $550M

MSCI, Inc. (NYSE: MSCI) initiated and declared the company's first quarterly dividend of $0.18 per share, or $0.72 annualized. The dividend will be payable on October 31, 2014, to stockholders of record on October 1, 2014, with an ex-dividend date of September 29, 2014. The annual yield on the dividend is 1.6 percent.

In addition, the Board has increased its existing share repurchase authorization to $850 million from $300 million, including a new $300 million accelerated share repurchase (“ASR”) agreement with Goldman Sachs, to be entered into on September 18, 2014. MSCI expects to reduce its share count by approximately 4.5 million shares upon commencement of the $300 million ASR. The remaining $550 million authorization is expected to be utilized by the end of 2016.

“The plan we are announcing today to return $1 billion to MSCI shareholders by the end of 2016 is a reflection of the company’s strong financial and operating position and underscores our continued commitment to a disciplined and balanced approach to capital allocation,” said Henry A. Fernandez, Chairman and Chief Executive Officer. “In essence, this enhanced capital return plan is about rewarding our shareholders with both immediate value from accelerated share repurchases and recurring returns from a dividend, while we continue to invest in and grow our business.”

For a dividend history and other dividend-related data on MSCI, Inc. (MSCI) click here.

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