Nasdaq Raises Dividend by 15%

Date : 03/27/2014 @ 10:00AM
Source : Dow Jones News
Stock : Nasdaq, Inc. (MM) (NDAQ)
Quote : 68.67  -0.87 (-1.25%) @ 8:00PM

Nasdaq Raises Dividend by 15%

Nasdaq, Inc. (NASDAQ:NDAQ)
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Nasdaq OMX Group Inc. raised its quarterly dividend by 15%, its first dividend increase since 2012.

The dividend was boosted to 15 cents from 13 cents, with the increase costing the stock exchange operator an additional $3.4 million a quarter.

The New York-based exchange operator has sought to diversify its revenue as it, like its rivals, has struggled with a slide in stock trading by individual investors and asset managers over the past several years. Last year, it bought bond-trading and investor-relations businesses and is expected to soon launch a marketplace for trading private shares in pre-IPO companies.

In a separate release, Nasdaq said its Nasdaq Stock Market led all U.S. exchanges for initial public offerings in the first quarter. Nasdaq had 45 IPOs during the first quarter, more than double the number than any other U.S. exchange. Nasdaq had a total of 74 new listings during the period.

The company's shares are down about 6% so far this year.

Write to Ben Fox Rubin at ben.rubin@wsj.com

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