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Intercontinental Exchange Board Approves $2.0 Bln Of Shares Repurchase

Intercontinental Exchange (ICE) said that its board has authorized a new share repurchase program and its quarterly dividend of $0.24.

Through September 30, 2018, ICE has repurchased nearly $1.1 billion of its common stock at an average price of $73.54 and it expects to exhaust the remaining $141 million of its current $1.2 billion authorization during the fourth quarter 2018. The new $2.0 billion authorization for share repurchases is effective January 1, 2019 with no end date.

ICE's fourth quarter 2018 dividend is payable on December 31, 2018 to stockholders of record as of December 14, 2018. The ex-dividend date is December 13, 2018. Upon paying the fourth quarter dividend, ICE will have paid out approximately $556 million in dividends during 2018, a 17% increase versus 2017.

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