AIG Board of Directors Authorizes Repurchase of Additional Shares of AIG Common Stock, Declares Increased Common Stock Dividend
August 03 2015 - 4:05PM
Business Wire
American International Group, Inc. (NYSE:AIG) today announced
the following actions taken by its Board of Directors:
- Authorized the repurchase of additional
shares of AIG Common Stock with an aggregate purchase price of up
to $5.0 billion. During the first half of 2015, AIG repurchased
approximately $3.7 billion of shares of AIG Common Stock, pursuant
to prior authorizations from the Board of Directors. AIG made
additional repurchases of approximately $965 million through the
end of July 2015. AIG’s aggregate remaining share repurchase
authorization, inclusive of today’s announced $5.0 billion
authorization, is approximately $6.3 billion. Repurchases may be
made from time to time in the open market, private purchases,
through forward, derivative, accelerated repurchase or automatic
repurchase transactions, or otherwise.
- Declared a 124 percent increase in the
quarterly dividend to $0.28 per share on AIG Common Stock, par
value $2.50 per share. The dividend is payable on September
28, 2015, to stockholders of record at the close of business
on September 14, 2015.
“We are pleased to increase both our share repurchase
authorization by $5.0 billion, and our quarterly dividend to $0.28
per share from $0.125 per share,” said Douglas M. Steenland,
Chairman of the Board of Directors of AIG. “These actions
demonstrate our continued commitment to proactive capital
management and balance sheet optimization. AIG’s recent actions to
further simplify and divest noncore assets have generated
substantial cash proceeds and significantly improved our risk
profile.”
Certain statements in this press release constitute
forward-looking statements. These statements are not historical
facts but instead represent only AIG’s belief regarding future
events, many of which, by their nature, are inherently uncertain
and outside AIG’s control. It is possible that actual results will
differ, possibly materially, from the anticipated results indicated
in these statements. Factors that could cause actual results to
differ, possibly materially, from those in the forward-looking
statements are discussed throughout AIG’s periodic filings with the
SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading global
insurance organization serving customers in more than 100 countries
and jurisdictions. AIG companies serve commercial, institutional,
and individual customers through one of the most extensive
worldwide property-casualty networks of any insurer. In addition,
AIG companies are leading providers of life insurance and
retirement services in the United States. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock
Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn:
http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
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version on businesswire.com: http://www.businesswire.com/news/home/20150803006289/en/
AIGInvestorsLiz Werner,
212-770-7074elizabeth.werner@aig.comorFernando Melon,
212-770-4630fernando.melon@aig.comorMediaJennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.com
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