v3.22.1
Shareholders' Equity (Deficit)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Shareholders' Equity (Deficit)

10. SHAREHOLDERS’ EQUITY (DEFICIT)

Return of capital

On October 29, 2020, the Board of Directors authorized a stock repurchase program for the purchase of up to $1,000.0 million worth of shares of MSCI’s common stock in addition to the $804.5 million of authorization then remaining under a previously existing share repurchase program (the “2020 Repurchase Program”) for a total of $1,804.5 million of stock repurchase authorization.

Share repurchases made pursuant to the 2020 Repurchase Program may take place in the open market or in privately negotiated transactions from time to time based on market and other conditions. This authorization may be modified, suspended or terminated by the Board of Directors at any time without prior notice. As of March 31, 2022, there was $816.5 million of available authorization remaining under the 2020 Repurchase Program.

The following table provides information with respect to repurchases of the Company’s common stock made on the open market:

 

Three Months Ended

 

Average

Price

Paid Per

Share

 

 

Total

Number of

Shares

Repurchased

 

 

Dollar

Value of

Shares

Repurchased

 

 

 

 

 

 

 

(in thousands)

 

March 31, 2022

 

$

515.74

 

 

 

1,498

 

 

$

772,657

 

March 31, 2021

 

$

407.70

 

 

 

330

 

 

$

134,340

 

 

 

The following table presents dividends declared per common share as well as total amounts declared, distributed and deferred for the periods indicated:

 

 

 

Dividends

 

(in thousands, except per share amounts)

 

Per Share

 

 

Declared

 

 

Distributed

 

 

(Released)/Deferred

 

Three Months Ended March 31, 2022

 

$

1.04

 

 

$

87,280

 

 

$

87,846

 

 

$

(566

)

Three Months Ended March 31, 2021

 

$

0.78

 

 

$

65,947

 

 

$

66,153

 

 

$

(206

)

 

Common Stock.

The following table presents activity related to shares of common stock issued and repurchased during the three months ended March 31, 2022:

 

 

 

Common Stock

 

 

Treasury

 

 

Common Stock

 

 

 

Issued

 

 

Stock

 

 

Outstanding

 

Balance at December 31, 2021

 

 

133,162,178

 

 

 

(50,722,729

)

 

 

82,439,449

 

Dividend payable/paid

 

 

82

 

 

 

—

 

 

 

82

 

Common stock issued

 

 

417,508

 

 

 

—

 

 

 

417,508

 

Shares withheld for tax withholding

 

 

—

 

 

 

(190,766

)

 

 

(190,766

)

Shares repurchased under stock repurchase programs

 

 

—

 

 

 

(1,498,143

)

 

 

(1,498,143

)

Shares issued to directors

 

 

41

 

 

 

(41

)

 

 

—

 

Balance at March 31, 2022

 

 

133,579,809

 

 

 

(52,411,679

)

 

 

81,168,130