Morningstar Inc. has significantly expanded its equity coverage with the introduction of quantitative ratings and reports for approximately 28,000 companies globally. The new ratings--Quantitative Fair Value Estimate, Quantitative Valuation, Quantitative Uncertainty, Quantitative Economic Moat, and Quantitative Financial Health--are based on quantitative statistics as well as Morningstar's proprietary, analyst-driven equity ratings. Morningstar's new quantitative equity ratings are forward-looking and generated by a statistical model that is based on analyst-driven ratings, including Morningstar's Fair Value Estimate, Morningstar(R) Economic Moat(TM) Rating, and Uncertainty Rating as well as financial data points such as earnings yield, average daily volume, and total return volatility, among others. The quantitative ratings are calculated daily and derived from the analyst-driven ratings of a company's peers as determined by statistical algorithms. Morningstar will calculate quantitative equity ratings for companies whether or not it already provides analyst ratings and qualitative coverage. In some cases, the quantitative ratings may differ from the analyst ratings because a company's analyst-driven ratings can significantly differ from other companies in its peer group. The new quantitative equity ratings comprise: Quantitative Fair Value Estimate: Comparable to Morningstar's Fair Value Estimate for stocks, which measures a company's intrinsic value based on a discounted cash flow model, and represents the per share value of a company's equity. The measure is expressed in the local currency; Quantitative Valuation: Defined as the ratio of a company's Quantitative Fair Value Estimate to its last market close price, and similar to the analyst-driven Fair Value Estimate to last market close price ratio. The rating is expressed as Overvalued, Fairly Valued, or Undervalued; Quantitative Uncertainty: Describes the level of uncertainty around the Quantitative Fair Value Estimate, comparable to the Uncertainty Rating for the analyst Fair Value Estimate. The rating is expressed as Low, Medium, High, Very High, or Extreme; Quantitative Economic Moat: Corresponds to Morningstar's Economic Moat rating, which measures a company's sustainable competitive advantages. The quantitative rating is expressed as None, Narrow, or Wide. Quantitative Financial Health: Based on Morningstar's proprietary measure of the likelihood of financial distress. The quantitative rating is expressed as Weak, Moderate, or Strong.

Morningstar Inc. announced that Gail Landis has been elected to serve on its board of directors. Landis was one of four founding partners of Evercore Asset Management, LLC. At Evercore, she was responsible for all business development, client service, and marketing. Before joining Evercore, Landis was head of Americas distribution for Credit Suisse Asset Management, leading an 80-person team in both the institutional and retail businesses. She also held positions at Sanford C. Bernstein & Co. Inc. and its successor company, AllianceBernstein, as an equity analyst and senior portfolio manager before establishing the company's consultant relations department.

Morningstar Inc. declared a quarterly dividend of 12.5 cents per share. The dividend is payable July 31, 2013 to shareholders of record as of July 12, 2013.