Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:MStar Dividends Grow for Mansueto Not Rated 1.0 Email Routing List Email & Route  Print Print
Tuesday, December 13, 2011

MStar Dividends Grow for Mansueto

News summary by MFWire's editors

Morningstar Inc.'s CEO Joe Mansueto will be about $10 million richer each year, thanks to the company's decision to double the dividend payment for stockholders. Crain's Chicago Business reported that the company announced last week the increase in quarterly dividend payment from 5 cents per share to 10 cents.

Mansueto is the founder and as of March 1 is the largest shareholder of the investment research provider. He owns a 49.7 percent stake in the company, or 24.87 million shares in all. Crain's incorrectly reported that Mansueto will be receiving around $124.35 million per quarter or $497.4 million per year in dividends. However, Morningstar spokeswoman Margaret Cohen clarified that Mansueto's dividend payments will only jump to about $10 million, from about $5 million.

The Chicago-based company also announced that it increased the existing $100 million share-buyback plan they announced in October 2010 by $200 million. Under the program, Morningstar has bought 792,526 shares for $44.1 million of stock as of November 30.

Mansueto was the recipient of the MFWire's Lifetime Innovator Award for 2011 and was the keynote speaker at the MFWire's Influencers Summit in Boston held in October. 

Correction: This story has been updated to reflect an error in Crain's Chicago original report, regarding dividend payments to its Morningstar's chief, Joe Mansueto.

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

1.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use