TMX Group revenue up 22% YoY in Q4 2018


TMX Group

The Board of Directors of TMX Group Limited (TSX:X) declared a dividend of $0.62 on each common share outstanding, an increase of $0.04 or 7%, from the previous $0.58 per common share. This dividend is payable on March 15, 2019 to shareholders of record at the close of business on March 1, 2019.

Lou Eccleston
Lou Eccleston, TMX

We are pleased to announce another dividend increase for TMX Group, the fourth increase over the last ten quarters,” said Lou Eccleston, Chief Executive Officer, TMX Group. “Our organization remains in continuous pursuit of our long-term strategy for profitable growth and to deliver increased value to shareholders. This increase reaffirms our commitment to align TMX’s dividend payout ratio with our domestic and international peers.

TMX Group has also released its results for the full year and Q4 ended December 31, 2018.

Highlights include:

  • Revenue of $207.6 million, up 22%, including 8% organic revenue growth, compared with Q4/17
  • Diluted earnings per share of $1.24, down 66%, or up 72% from continuing operations, compared with Q4/17
  • Adjusted diluted earnings per share of $1.31 up 7%, or up 17% from continuing operations over Q4/17
  • Cash flows from operating activities of $68.4 million, up 15% over Q4/17
  • Increased quarterly dividend by 4 cents per common share, up 7% to 62 cents per common share

Commenting on 2018 and the company’s outlook, Lou Eccleston said:

TMX’s 2018 results reflect the strength and resiliency in our diversified business model, with year over year growth across all operating segments. In a year highlighted by strong financial performance, TMX continued to make significant progress in the execution of our global growth strategy, increasing our presence in key new markets around the world. Looking ahead, TMX is steadfast in our client-first commitment to serving the world’s premier capital markets, while keenly focused on generating long-term, profitable growth.

John McKenzie
John McKenzie, TMX

Commenting on operating performance in the fourth quarter of 2018, John McKenzie, Chief Financial Officer of TMX Group, said:

We were pleased to report another strong quarter with revenue growth of 22%. Once again, we saw the benefits of having a diversified business where the strength in our trading, clearing and subscription based businesses more than offset a decrease in additional listing fees revenue. Our year over year organic revenue growth was 8% this past quarter excluding Trayport, which reported 12% year over year revenue growth in its core subscriber business. While operating expenses increased, we delivered solid earnings performance with $1.24 in diluted earnings per share from continuing operations, up 72% over last year, and adjusted diluted earnings per share of $1.31, up 7% over Q4/17.

Consistent with our target to maintain a dividend payout ratio in the same range as our domestic and international peers, we have increased our quarterly dividend by 4 cents per share, or 7%.

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TMX Group revenue up 22% YoY in Q4 2018

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