CME Group board to discuss whether to move dividend forward- CFO
CHICAGO, Nov 28 (Reuters) - CME Group Inc may pay out the exchange operator's yearly dividend this year to avoid a bite from higher taxes likely next year, a top exchange official said.
"We'll be going to our board in December, to talk about potentially pulling that payment into December to avoid some of the tax uncertainty for receivers of that dividend," CME Chief Financial Officer James Parisi told analysts at a conference sponsored by KBW.
Several companies have declared one-time cash dividends in recent days ahead of a likely increase in the dividend tax rate due to the "fiscal cliff" - a spate of tax increases and spending cuts due to kick in at the beginning of next year if Congress and the White House cannot reach an agreement on a new deficit-cutting plan.
CME usually issues an annual dividend in February or March, Parisi said.