Company plans to file a Normal Course Issuer Bid (NCIB) and purchase up to approximately 1% of common shares
TORONTO, Feb. 10, 2020 /PRNewswire/ - The Board of Directors of TMX Group Limited today declared a dividend of $0.66 on each common share outstanding, payable on March 13, 2020 to shareholders of record at the close of business on February 28, 2020.
TMX Group hereby advises that this dividend is designated as an "eligible dividend" for Canadian income tax purposes.
The Board of Directors also approved a plan to repurchase up to 560,000 of our common shares issued and outstanding by way of an NCIB, subject to regulatory approval. These common shares represent approximately 1% of our common shares outstanding as of February 7, 2020.
"The share buyback speaks to the high level of confidence we have in our strategy and ability to deliver solid operating results. Returning capital to shareholders by way of an NCIB will also offset the impact of dilution created by the exercise of share options," said John McKenzie, Interim Chief Executive Officer and Chief Financial Officer of TMX Group.
The company plans to make its filing for an NCIB with Toronto Stock Exchange during the first quarter of 2020.
For the results of the quarter ended December 31, 2019 for TMX Group, please click on the following link: http://www.tmx.com/investor-relations/.
Caution Regarding Forward-Looking Information
Certain statements in this press release constitute "forward-looking information" as defined in applicable Canadian securities legislation, which are not historical facts but are based on certain assumptions and reflect TMX Group's current expectations.
Forward-looking information is subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. We have no intention to update this forward-looking information, except as required by applicable securities law.
This forward-looking information should not be relied on as expressing our views as of any date subsequent to the date of this press release. Please see "Risks and Uncertainties" in the 2019 Management's Discussion and Analysis of TMX Group for some of the risk factors that could cause actual events or results to differ materially from current expectations.
About TMX Group (TSX-X)
TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
SOURCE TMX Group Limited