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.