NEW YORK, Feb. 6, 2018 /PRNewswire/ -- S&P Global (SPGI) (NYSE: SPGI) announced today that it will enhance its commitment to investors, employees, and the communities where they live and work, through a 22% increase in its dividend payment and a $20 million contribution to the S&P Global Foundation as a result of the impact from U.S. tax reform. The Company also announced that it will be strengthening its core capabilities by investing in new opportunities for increasing employee technology acumen and enhancing the digital workplace.
S&P Global Foundation
"S&P Global has long advocated for the need to modernize the outdated U.S. tax code and create a level playing field for U.S. based companies of all sizes," says Douglas Peterson, S&P Global President and CEO. "Among other things, the December passage of the tax reform legislation allows our Company to increase its investment in our greatest asset, our people, as well as in the communities where they live and work."
"Our employees are at the heart of everything that we do and stand for as a Company," continues Mr. Peterson. "They are also passionate about giving back in their communities, so this investment will allow S&P Global to have an even greater impact."
The S&P Global Foundation supports initiatives that help people to develop vital skills for the workplace of the future, empowers women entrepreneurs and provides tools for sustainable investments. It also advances the Company's corporate responsibility commitment to building sustainable economies and thriving global communities.
S&P Global also announced that the Board of Directors for the Company has approved a 22% increase in the regular quarterly cash dividend on the Company's common stock. The Company has paid a dividend each year since 1937 and is one of fewer than 25 companies in the S&P 500® that has increased its dividend annually for at least the last 45 years.
The quarterly dividend will increase from $0.41 to $0.50 per share. The dividend will be payable on March 12, 2018, to shareholders of record on February 26, 2018. The new annualized dividend rate of $2.00 per share represents an average compound annual dividend growth rate of 9.8% since 1974.
"We are raising our annual dividend increase in 2018 in a substantial way as a result of our additional free cash flow capabilities generated by U.S. tax reform," adds Mr. Peterson. "Stepping up the dividend underscores our long-term commitment to returning capital to shareholders."
Strengthening Core Capabilities
S&P Global will also be investing in new opportunities for increasing employee technology acumen and enhancing the digital workplace.
"S&P Global is committed to ensuring its employees have every opportunity to grow in a dynamic technology environment that will enable us to continue to serve our customers with the excellence they expect from our Company," says Ewout Steenbergen, Chief Financial Officer at S&P Global. "We will be executing new broad-based campaigns that will further enhance our employees' skill sets, lead to greater involvement and partnerships that create collaborative and dynamic digital workplaces, and embrace the change that we need to serve the markets of today and tomorrow."
"The investment that we have announced today is a commitment to growing the knowledge and skills of our employees and ensuring that S&P Global remains a prime destination for a wide range of talents and that we continue to attract and retain the best technology people in the world," concludes Mr. Steenbergen.
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company's divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information visit www.spglobal.com.
Investor Relations: http://investor.spglobal.com
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SOURCE S&P Global