Ameriprise Financial Announces Additional $2 Billion Share Repurchase Program
June 15 2011 - 9:00AM
Business Wire
Ameriprise Financial, Inc. (NYSE:AMP) today announced that its
board of directors has authorized an additional expenditure of up
to $2 billion for the repurchase of shares of its common stock
through June 28, 2013. Through the first quarter of 2011, the
company had repurchased $969 million of the current $1.5 billion
authorization, and the remaining capacity will continue to be
available through the company’s 2012 annual meeting of
shareholders.
The company intends to fund share repurchases through existing
working capital, future earnings and other customary financing
methods. The share repurchase program does not require the purchase
of any minimum number of shares, and depending on market conditions
and other factors, these purchases may be commenced or suspended at
any time without prior notice. Acquisitions under the share
repurchase program may be made in the open market, through
privately negotiated transactions or block trades, or other
means.
This news release contains certain forward-looking statements
regarding the timing and manner of, and the sources of funding for,
the company’s purchase of shares pursuant to the share repurchase
program. Such statements reflect management’s plans, estimates and
beliefs, and are subject to risks and uncertainties, which could
cause actual results to differ materially from such statements.
Readers are cautioned not to place undue reliance on the
forward-looking statements contained in this release, which speak
only as of the date hereof. We undertake no obligation to update
publicly or revise such forward-looking statements.
Ameriprise Financial, Inc. is a diversified financial services
company serving the comprehensive financial planning needs of the
mass affluent and affluent. For more information, visit
ameriprise.com.
© 2011 Ameriprise Financial, Inc. All rights reserved.
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