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MSCI declares first-ever dividend, hikes stock buyback plan
September 18, 2014 / 12:06 PM / 3 years ago

MSCI declares first-ever dividend, hikes stock buyback plan

Sept 18 (Reuters) - Stock market indexes provider MSCI Inc declared its first-ever quarterly dividend and more than doubled its stock repurchase program to $850 million from $300 million.

The company said the buyback - which includes a $300 million accelerated share repurchase agreement with Goldman Sachs - and the dividend would return about $1 billion to shareholders by the end of 2016.

MSCI set a quarterly cash dividend of 18 cents per share, payable on Oct. 31. (Reporting By Sudarshan Varadhan in Bangalore; Editing by Savio D‘Souza)

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