TORONTO, Nov. 7, 2019 /CNW/ - The Board of Directors of TMX Group Limited today declared a dividend of $0.66 on each common share outstanding, an increase of $0.04 or 6% from the previous $0.62 per common share. This dividend is payable on December 6, 2019 to shareholders of record at the close of business on November 22, 2019.
"We are pleased to announce TMX Group's second dividend increase of 2019 and fifth increase over the past three years," said Lou Eccleston, Chief Executive Officer, TMX Group. "This increase demonstrates the intrinsic strength of TMX's business model and a proven ability to generate cash flow. We are keenly focused on executing our global growth strategy and remain committed to delivering shareholder value."
TMX Group hereby advises that this dividend is designated as an "eligible dividend" for Canadian income tax purposes.
For the results of the quarter ended September 30, 2019 for TMX Group, please click on the following link: http://www.tmx.com/investor-relations/.
Caution Regarding Forward-Looking Information
This press release of TMX Group contains "forward-looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, assumptions, estimates, projections and other factors that management believes to be reasonable as of the date of this press release. Often, but not always, such forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", "is expected", "budget", "scheduled", "targeted", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or the negatives of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved or not be taken, occur or be achieved.
Forward-looking information, by its nature, requires us to make assumptions and is subject to significant risks and uncertainties which may give rise to the possibility that our expectations or conclusions will not prove to be accurate and that our assumptions may not be correct. Such factors include, but are not limited to: market competition; economic conditions generally; adverse effects on our results caused by global economic uncertainties; regulatory constraints; the level of trading and activity on markets, and particularly the level of trading in TMX Group's key products; and the continued availability of financing on appropriate terms for future projects. A description of the above-mentioned items is contained under the heading Risks and Uncertainties in the 2018 Annual MD&A.
We have no intention to update this forward-looking information, except as required by applicable securities law. This forward-looking information should not be relied upon as representing our views as of any date subsequent to the date of this press release. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
About TMX Group (TSX-X)
TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London and Singapore. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
SOURCE TMX Group Limited
View original content: http://www.newswire.ca/en/releases/archive/November2019/07/c6088.html
Catherine Kee, Senior Manager, Corporate Communications & Media Relations, TMX Group, 416-814-8834, firstname.lastname@example.org ; Paul Malcolmson, Managing Director, Investor Relations & Strategy, TMX Group, 416-947-4317, email@example.com
TORONTO, Nov. 7, 2019
Revenue of $196.3 million, up 2% from $192.8 million in Q3/18
Diluted earnings per share of $1.09, up 7% from $1.02 in Q3/18
Adjusted diluted earnings per share of $1.25, up 5% from $1.19 in Q3/18
Increased quarterly dividend by 4 cents per common share, up 6% to 66 cents per share
TORONTO, Nov. 7, 2019 /CNW/ - TMX Group Limited [TSX:X] ("TMX Group") today announced results for the third quarter ended September 30, 2019.
Commenting on Q3/19 and the company's outlook, Lou Eccleston, Chief Executive Officer of TMX Group, said:
"TMX's global expansion efforts and commitment to strategic execution continued to drive overall revenue growth in the third quarter, highlighted by gains in our derivatives business and Trayport, compared to the same period last year. As we look to the fourth quarter of the year and beyond, TMX remains focused on seeking out strategic opportunities to capitalize on emerging industry trends to better serve the evolving needs of our diverse and international client base, while delivering value to shareholders."
Commenting on the company's performance in Q3/19, John McKenzie, Chief Financial Officer of TMX Group, said:
"We are pleased to announce our best third quarter in terms of highest revenue, diluted earnings per share and adjusted diluted earnings per share. We reported 2% revenue growth and 7% growth in diluted earnings per share compared with last year. The revenue growth was driven by significantly higher Derivatives Trading and Clearing revenue as well as increased revenue from Trayport. The growth in earnings was fueled by both higher revenues and lower operating expenses from continued, disciplined cost management.
Our solid ongoing financial performance gave us confidence to announce a second increase in the quarterly dividend for 2019. With a four cent, or 6%, increase in our dividend, our dividend payout ratio for the past four quarters of 47% is within our targeted payout range of 40 to 50 percent of adjusted diluted EPS."
RESULTS OF OPERATIONS
Non-IFRS Financial Measures
Adjusted earnings per share, adjusted diluted earnings per share and adjusted net income are non-IFRS measures and do not have standardized meanings prescribed by IFRS and are, therefore, unlikely to be comparable to similar measures presented by other companies. We present adjusted earnings per share, adjusted diluted earnings per share, and adjusted net income to indicate ongoing financial performance from period to period, exclusive of a number of adjustments. These adjustments include amortization of intangibles related to acquisitions, strategic re-alignment expenses, transaction related costs, net income tax recovery on gain on sale of Natural Gas Exchange Inc. (NGX), gain on sale of interest in Bermuda Stock Exchange, gain on sale of interest in FTSE TMX Global Debt Capital Markets Limited (TMX FTSE), commodity tax provision, and change in net deferred income tax liabilities resulting from decrease in Alberta corporate income tax rate. Management uses these measures, and excludes certain items, because it believes doing so results in a more effective analysis of underlying operating and financial performance, including, in some cases, our ability to generate cash. Excluding these items also enables comparability across periods. The exclusion of certain items does not imply that they are non-recurring or not useful to investors.
Three months ended September 30, 2019 Compared with Three months ended September 30, 2018
The information below reflects the financial statements of TMX Group for the quarter ended September 30, 2019 compared with the quarter ended September 30, 2018.
Toronto Stock Exchange, TSX Venture Exchange
TORONTO, Nov. 7, 2019 /CNW/ - TMX Group today announced its financing activity on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for October 2019.
TSX welcomed eight new issuers in October 2019, compared with 14 in both the previous month and in October 2018. The new listings were four exchange traded funds, two mining companies and two technology companies. Total financings raised in October 2019 decreased 17% from the previous month, but were up 26% compared to October 2018. The total number of financings in October 2019 was 52, compared with 37 the previous month and 44 in October 2018.
For additional data relating to the number of transactions billed for TSX, please click on the following link: https://www.tmx.com/resource/en/440
TSXV welcomed seven new issuers in October 2019, compared with three in the previous month and 14 in October 2018. The new listings were three capital pool companies, three mining companies, and one oil & gas company. Total financings raised in October 2019 decreased 15% compared to the previous month, and were down 4% compared to October 2018. There were 119 financings in October 2019, compared with 117 in the previous month and 144 in October 2018.
TMX Group consolidated trading statistics for October 2019 can be viewed at www.tmx.com.
Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange
TORONTO, Nov. 6, 2019 /CNW/ - TMX Group Limited today announced October 2019 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange.