Morningstar raises quarterly dividend 4.2%, announces $500M share repurchase

The board of directors of Morningstar declared a quarterly dividend of 37.5c per share, an increase of 4.2%. The dividend is payable Jan. 31, 2023, to shareholders of record as of Jan. 6, 2023. The 1.5c increase from the prior quarterly rate of 36c per share results in an annualized dividend of $1.50 per share compared with the prior annualized rate of $1.44 per share. Morningstar’s board also approved a new three-year share repurchase program that authorizes the company to repurchase up to $500M in shares of the company’s outstanding common stock, effective Jan. 1, 2023. This new repurchase program will replace the existing program, which came into effect on Jan. 1, 2021.