OCC clearers due $47m refund 29 March 2017Chicago Reporter: Drew Nicol
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OCC has confirmed that its next instalment of refunds and dividends will delivered later this year.
Clearing members are due a refund of approximately $46.6 million, while a dividend of roughly $25.6 million will go to stockholder exchanges.
The clearinghouse clarified that these payments would be made “sometime in the third quarter of 2017”.
OCC executive chair and CEO Craig Donohue said: "These actions taken under our approved capital plan are consistent with the operative fee, refund, and dividend policies approved by the US Securities and Exchange Commission and align with regulatory expectations.”
“This also ensures OCC has the amount of capital needed to comply with existing and proposed capital requirements.”
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