DGAP-News: NASDAQ OMX Board of Directors Authorizes an Additional Repurchase of Up to $300 Million of the Company's Outstanding Common Stock
(firmenpresse) - The NASDAQ OMX Group, Inc.
01.08.2012 14:30
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NEW YORK, 2012-08-01 14:30 CEST (GLOBE NEWSWIRE) --
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that its Board of
Directors has granted an additional authorization for the Company to repurchase
up to $300 million of the company's common stock, or approximately 8 percent of
its outstanding shares at the current share price. Purchases by NASDAQ OMX
under this program may be made from time to time at prevailing market prices in
open market purchases, privately-negotiated transactions, block purchase
techniques or otherwise, as determined by NASDAQ OMX's management. The
purchases will be funded from existing cash balances.
Lee Shavel, NASDAQ OMX's EVP and Chief Financial Officer, said: 'NASDAQ OMX
continues to generate substantial free cash flow, and we continue to execute on
our strategy to deploy that capital effectively. Since January 2009, we have
repurchased $1.1 billion of outstanding common stock, representing
approximately 50 million shares at an average price of $21.85. These
repurchases have collectively reduced our share base by almost 22% in that time
period. Share repurchases are an important part of our balanced capital
deployment strategy, which also includes a recently initiated quarterly
dividend and bolt-in acquisitions. All of our capital deployment efforts are
supported by a robust return-on-invested-capital discipline which is targeted
to deliver maximum value for our shareholders.'
This program does not obligate NASDAQ OMX to acquire any particular amount of
common stock. The timing, frequency and amount of repurchase activity will
depend on a variety of factors such as levels of cash generation from
operations, cash requirements for investment in NASDAQ OMX's business,
acquisitions, current stock price, market conditions and other factors. The
share repurchase program may be suspended, modified or discontinued at any
time.
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 24 markets, 3 clearinghouses and 5 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-40 microsecond speeds with 99.999%
uptime, our technology drives more than 70 marketplaces in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to approximately 3,400 listed
companies worth $6 trillion in market cap whose innovations shape our world, we
give the ideas of tomorrow access to capital today. Welcome to where the world
takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn
more, visit www.nasdaqomx.com. Follow us on Facebook
(http://www.facebook.com/NASDAQ) and Twitter
(http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements
that involve a number of risks and uncertainties. NASDAQ OMX cautions readers
that any forward-looking information is not a guarantee of future performance
and that actual results could differ materially from those contained in the
forward-looking information. Such forward-looking statements include, but are
not limited to (i) projections about our future financial results, growth,
trading volumes, tax benefits and achievement of synergy targets, (ii)
statements about the implementation dates and benefits of certain strategic and
capital return initiatives, (iii) statements about our integrations of our
recent acquisitions and (iv) other statements that are not historical facts.
Forward-looking statements involve a number of risks, uncertainties or other
factors beyond NASDAQ OMX's control. These factors include, but are not limited
to, NASDAQ OMX's ability to implement its strategic initiatives, economic,
political and market conditions and fluctuations, government and industry
regulation, interest rate risk, U.S. and global competition, and other factors
detailed in NASDAQ OMX's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 10-K and quarterly reports on
Form 10-Q which are available on NASDAQ OMX's website at
http://www.nasdaqomx.com and the SEC's website at www.sec.gov. NASDAQ OMX
undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events or otherwise.
NDAQF
CONTACT:Contact Media Relations:Joseph Christinat
+1.646.441.5121Joseph.Christinat(at)NASDAQOMX.ComContact Investor Relations:John
Sweeney +1.212.401.8737John.Sweeney(at)NASDAQOMX.Com
News Source: NASDAQ OMX
01.08.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6311031081
WKN:
End of Announcement DGAP News-Service
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Datum: 01.08.2012 - 14:30 Uhr
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