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CME to buy $1.1B in shares, pay special dividend



By AP
23 June 2008 @ 08:14 am EST

CHCIAGO - CME Group says it will repurchase $1.1 billion in shares and pay a $5 special dividend.

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CME 411.44 18.32

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The operator of the Chicago Mercantile Exchange and Chicago Board of Trade says it will pay for the moves with excess cash generated from operations.

CME, which recently bought CBOT and is buying the New York Mercantile Exchange, says its "need to significantly build cash balances has changed."

The share buyback will take place over the next 18 months.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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