ATLANTA & NEW YORK–(BUSINESS WIRE)– Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced its Board of Directors has authorized a new share repurchase program and its quarterly dividend of $0.24.
Through September 30, 2018, ICE has repurchased nearly $1.1 billion of its common stock at an average price of $73.54 and it expects to exhaust the remaining $141 million of its current $1.2 billion authorization during the fourth quarter 2018. The new $2.0 billion authorization for share repurchases is effective January 1, 2019 with no end date.
ICE’s fourth quarter 2018 dividend is payable on December 31, 2018 to stockholders of record as of December 14, 2018. The ex-dividend date is December 13, 2018. Upon paying the fourth quarter dividend, ICE will have paid out approximately $556 million in dividends during 2018, a 17% increase versus 2017.
The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases or purchases through a Rule 10b5-1 trading plan, all in accordance with Securities and Exchange Commission and other applicable legal requirements. The timing, prices and sizes of purchases will depend upon prevailing stock prices, general economic and market conditions and other considerations. The repurchase program does not have an end date and does not obligate ICE to acquire any particular amount of common stock and the repurchase program may be suspended or discontinued at any time at ICE’s discretion.