Key Highlights

  • Morningstar's $0.50 quarterly dividend has an October 2, 2026 ex-dividend date and is payable October 30 to shareholders of record.
  • Second-quarter revenue rose 9.6% to $663.2 million, or 6.8% organically, with operating income up 28.4% to $160.6 million.
  • GAAP diluted EPS was $2.83 versus $2.09, and adjusted diluted EPS, a non-GAAP measure, rose 29.2% to $3.10.
  • The company repurchased $100.0 million of shares in the second quarter and $400.0 million in the first six months.

Overview

Morningstar, Inc.'s (NASDAQ:MORN) $0.50 quarterly dividend yields 1.07% and sits beside second-quarter GAAP diluted EPS of $2.83 and adjusted diluted EPS of $3.10. The Board declared the dividend on September 18, 2026, consistent with the dividend paid in July. The company paid $38.9 million of dividends in the first six months of 2026.

Dividend Program and Shareholder Returns

Morningstar's Board declared a quarterly dividend of 50 cents per share on September 18, 2026. It is payable October 30 to shareholders of record as of October 2.

On June 18, 2026, the Board approved a $0.50 dividend, or $18.8 million, payable July 31 to shareholders of record as of July 10. The March 13, 2026 declaration of $0.50 was payable April 30 to shareholders of record as of April 3.

About the Company

Morningstar is a provider of independent investment insights in North America, Europe, Australia and Asia, based in Chicago. Its customers include individual investors, financial advisors, asset managers, retirement plan providers and institutional investors. Its investment advisory subsidiaries managed approximately $375 billion in assets under management and advisement as of June 30, 2026.

Financial Performance Behind the Payout

Morningstar reported second-quarter revenue of $663.2 million versus $605.1 million. License-based revenue rose 6.2% (3.1% organic), asset-based revenue rose 17.5% (13.8% organic) and transaction-based revenue rose 18.0% (17.8% organic).

Operating income was $160.6 million, with an operating margin of 24.2% versus 20.7%. Adjusted operating income was $175.9 million, with a margin of 26.5% versus 23.7%. Net income was $107.8 million versus $89.0 million, and adjusted diluted EPS was $3.10 versus $2.40. Free cash flow was $122.5 million.

Six-month revenue was $1,308.0 million, up 10.2%, and six-month operating income was $316.5 million, up 32.3%.

The CRSP Acquisition and Share Repurchases Beside the Dividend

Morningstar acquired the Center for Research in Security Prices (CRSP) in February 2026 and paid $359.6 million, net of cash acquired, in the first six months. The acquisition added $5.6 million of intangible amortization expense in the quarter and was accretive to adjusted operating margin. Morningstar Indexes revenue was $37.8 million versus $20.4 million.

The company repurchased 567,844 shares for $100.0 million in the second quarter and 2,291,256 shares for $400.0 million in six months. Under its $1.0 billion program, which runs to October 30, 2028, $300.0 million remained available.

Outlook

Morningstar's second-quarter release names Morningstar Credit, Morningstar Direct Platform and PitchBook as the largest contributors to organic revenue growth. Technology infrastructure costs, which rose $6.7 million including cloud and AI initiatives, CRSP's contribution and the $300.0 million remaining repurchase authorization are the items the company reports.