Good morning and welcome to the Equifax 2025 Annual Meeting of Shareholders. This meeting is being broadcast live via the Broadridge virtual meeting platform. At this time, I would like to turn the proceedings over to Mark Feidler, Chairman of the Board.
Good morning and welcome to the Equifax Annual Meeting of Shareholders. I'm Mark Feidler, Chairman of the Board of Directors. At this time, I call the meeting to order. As described in our proxy materials, this meeting is being conducted using a hybrid, in-person, and virtual format. For in-person attendees, we have convened at the company's corporate headquarters in Atlanta, Georgia. In addition, shareholders have been able to join virtually using the live meeting webcast. I'm joined here today by the Equifax Board of Directors and Senior Leadership Team. The participants in today's meeting include Mark Begor, CEO, and Lisa Stockard, Corporate Secretary. A representative of Broadridge is serving as the independent inspector of election for this meeting. Before proceeding, we would like to address a few housekeeping matters that are unique to this hybrid meeting format.
Thank you. If you are a shareholder and logged in today using your 16-digit control number, you'll see a meeting agenda on the website along with rules of conduct and our proxy materials. If you have not yet voted or wish to change your vote, please proceed to submit your vote on the meeting website or raise your hand to request a paper ballot.
Following the business portion of our meeting, our CEO will provide a brief presentation, and then we will conduct a question and answer session. During the Q and A period, a representative of Ernst & Young will be available to respond to appropriate questions regarding the company's financial statements.
If you are attending virtually, you may submit a question using the meeting website to be answered during the Q and A portion of the meeting. Please note that only questions relevant to meeting matters will be answered today, subject to our meeting time constraints.
I will now ask the Secretary to report on whether a quorum is present.
Yes, the Inspector of Election has certified that a quorum is present.
Thanks. This meeting is now duly convened for the purpose of transacting business properly before it. The next order of business is voting on the matters described in the proxy statement to the extent they are properly presented. The first proposal is the election of 10 directors for a one-year term. The nominees are listed in your proxy materials. The second proposal is an advisory vote to approve named executive officer compensation. The third proposal is ratification of the appointment of Ernst & Young as our independent auditor for 2025. The fourth proposal seeks approval to amend the company's Articles of Incorporation to eliminate supermajority voting requirements. The Board recommends vote for each of the director nominees and for each of these proposals.
If you have not yet voted or wish to change your vote, please submit your vote on the meeting website or raise your hand. The polls will be closing shortly. If you have already sent in your proxy card or voted by telephone or over the internet, there is no need to vote today unless you wish to change your vote. Mr. Chairman, all shareholders who wish to vote have had the opportunity to do so. We may proceed.
Thank you. I declare the polls are now closed. The Secretary will now report on the preliminary voting results.
The inspector has provided us with a preliminary report on the tabulation of ballots and informed us that the 10 nominees for director have been reelected, the vote to approve named executive officer compensation has passed, EY's appointment as independent auditor for 2025 has been ratified, and the proposal to amend the company's articles of incorporation has passed.
Thank you. The final voting results will be filed with the SEC. Since there is no further business, I declare the meeting to be officially adjourned. We will now proceed with the informal portion of the meeting. At this time, I would like to invite our CEO, Mark Begor, to provide a brief presentation regarding the company. The Q and A period will follow his presentation. Mark.
Thank you, Mark. It's an exciting time at Equifax. Hopefully, for the investors on the call, you've had a chance to review our shareholder letter that's available on our website. It goes into great detail about our 2024 performance as well as our outlook for the future. I'm going to give a very brief update about Equifax. I think our investors know who we are. We're a data analytics technology company. We have differentiated data, and we're really focused on delivering our solutions to our customers to help them grow and help them expand their business. 2024 was a strong year for Equifax. $5.7 billion of revenue, which was a record for Equifax. Over 9% non-mortgage growth. $1.7 billion in non-mortgage revenue growth since 2019, which is quite significant.
Our investment in our data technology transformation is really delivering with our expanded new product rollouts and a 12% vitality, which is the percent of our revenue from new products introduced in the last three years in 2024. We've also done 14 acquisitions since 2021, so we've been focused on expanding Equifax. You can see on this slide that all of our businesses performed in 2024. Our workforce solutions business was $2.4 billion, up 5% against a tough mortgage market. Our USIS credit risk marketing and identity fraud business was almost $1.9 billion of revenue and up 10%, again against a challenging mortgage market. Our international business, which operates in 23 markets around the globe, was $1.4 billion of revenue and up 19%. Strong broad-based business performance against a challenging mortgage market.
The cloud has been a significant investment for Equifax over the last five plus years. We finished the year over 85% of our global revenue in the cloud, which is a big milestone, so we can start pivoting from building the cloud to really focusing on leveraging the cloud, and we're really convinced that it's going to provide a real differentiation for Equifax and our ability to deliver always on stability, faster data transmission, and most importantly, the ability to innovate and deliver new products more rapidly to our customers to help them grow. Innovation is a big part and a big part of our strategy and really a bedrock of our DNA at Equifax. As I mentioned earlier, our Vitality Index is how we measure our innovation across Equifax. We have a 10% long-term goal.
We've been overachieving that in the last three plus years, and we expect to again in 2025. And it's really an important element of how we deliver for our customers to bring new solutions and new scores and models that really help our customers grow leveraging our differentiated data. And we're really convinced that the cloud is allowing us to really accelerate that innovation across Equifax. The New Equifax is a faster growing company. Three years ago, we increased our long-term growth rate from 7% to 10% annually to 8% to 12%. We've been challenged in the last couple of years by the mortgage market, but still growing quite positively as the mortgage market declined with higher rates. And we have a lot of conviction around growing the company 8% to 12% over the long term, which includes one to two points of bolt-on M&A or 7% to 10% organically.
That's going to really drive our margins, expansion, our free cash flow, and our ability to return cash to shareholders. We're quite energized about our announcement two weeks ago of our new long-term capital allocation plan, where we're going to continue to invest heavily in Equifax and CapEx at about 6 to 7% of our revenue to really drive our margin expansions through new products and innovation. Continue our bolt-on M&A strategy at one to two points of revenue, but importantly, start to return cash to shareholders. We announced a 28% dividend increase to $0.50 a share with our May dividend, and we expect to grow that dividend in line with earnings going forward at a range of 5 to 15% with a 20 to 30% payout ratio. A very consistent return of cash on dividend.
Then launched a new share repurchase program, a three-year—I'm sorry, a $3 billion four-year share repurchase program that, combined with a dividend over the next three, four, or five years, will return over $1 billion a year of cash annually to our shareholders, so a real vote of commitment for our shareholders going forward. We play an important role in all the markets we operate in and helping consumers and small businesses really deal with their financial lives. Our purpose is to help people live their financial best, and whether it's helping someone get an education, get their first job or second job, victim services, getting a new loan for a car, a mortgage, we play an important role in people's lives, and we take it very seriously with our purpose to help people with their financial best.
In this next slide, you can see our global impact on the kind of impact we have around the globe in our different solutions, whether it's in credit searches, mortgage applications, auto loans, helping consumers in markets like the United States get access to social services. Equifax plays an integral role in our consumers' and small business lives, and we take that quite seriously with our purpose. We also give back to our community. In 2024, we invested $1.3 million in our markets, principally in the markets that we have large operations in here in Atlanta and St. Louis, and we also have a matching program for our employees that delivered over a million dollars in donations from Equifax to 700 organizations that our employees identified in a total of $3.3 million of giving in 2024, which we're very proud of.
So now I'd like to open up the meeting to shareholders to ask questions during a brief Q and A session. If you're here in person and would like to ask a question, please raise your hand and wait for me to call on you. If you're attending virtually, please click the Ask a Question button on the meeting website and submit your question. We'll do our best to answer as many questions as we can, subject to our meeting time constraints today. And seeing that there's no questions in the room and we don't have any questions on the website, I want to thank everyone for your attendance and your support to Equifax. And I now declare this meeting concluded and thank you for your support to Equifax and the leadership team. Thanks very much.