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 $0.20.

The new $1.2 billion authorization, effective January 1, 2018, represents a twenty percent increase from the company's previous repurchase authorization of $1 billion which it expects to exhaust by the end of 2017. Through October 31, 2017, ICE has repurchased $792 million of its common stock at an average price of $62.39.

ICE’s fourth quarter 2017 dividend is payable on December 29, 2017 to stockholders of record as of December 14, 2017. The ex-dividend date is December 13, 2017. Upon paying the fourth quarter dividend, ICE will have paid out $475 million in dividends during 2017, a 16% increase versus 2016.

Said ICE CFO, Scott Hill: "We continue to grow our earnings and cash flow which support increased capital returns even as we invest in key strategic assets that will help us better serve our customers and drive increased shareholder value. We remain committed to a disciplined balance of investments to drive future growth and increased capital returns as we grow."

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 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.

About Intercontinental Exchange

Intercontinental Exchange (NYSE:ICE) is a Fortune 500 company that operates a leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on February 7, 2017.

SOURCE: Intercontinental Exchange

ICE-CORP

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Media Contact:
Kelly Loeffler
Kelly.Loeffler@theice.com
770-857-4726
or
Investor Contact:
Warren Gardiner
Warren.Gardiner@theice.com
770-835-0114

Source: Intercontinental Exchange