Mar. 31 at 10:54 AM
$CNNE Cannae Holdings plans to use at least
$460M for share repurchases, dividends
Cannae Holdings announced that it plans to use at least
$460M from the proceeds of the recently announced sale of Dun & Bradstreet to repurchase shares of its common stock, pay future quarterly dividends, and retire existing debt. As a result, Cannae would utilize at least 72% of its expected DNB sale proceeds as a capital return to shareholders and as debt repayment. The company expects to repurchase at least
$300M of its common stock, including through a tender offer, which would commence shortly following the anticipated closing of the DNB transaction.
In addition, the company expects to retain an additional
$60M of the DNB proceeds to cover future quarterly dividends to shareholders, while also repaying all
$101M outstanding under its existing margin loan that is collateralized by DNB shares. Dun & Bradstreet is Cannae's largest investment as Cannae holds 69.1M shares, representing
$632M in expected cash proceeds at the announced transaction value. The DNB sale is expected to close in the third quarter of 2025, subject to customary closing conditions.
