Lincoln National Corporation's Board of Directors Authorizes $1.5 Billion Repurchase Authorization
November 12 2021 - 11:00AM
Business Wire
Lincoln Financial Group (NYSE: LNC) today announced that the
board of directors of Lincoln National Corporation has authorized
an increase to the company’s securities repurchase authorization,
bringing the total aggregate authorization to $1.5 billion.
This authorization provides additional capacity to execute our
previously communicated plans for incremental and ongoing share
repurchases as well as debt paydown, which management discussed on
the call related to the reinsurance transaction with Resolution
Life held on September 17, 2021 and on the company’s third quarter
earnings call held on Thursday, November 4, 2021.
The repurchase authorization does not have an expiration date.
The amount and timing of share repurchases depends on key capital
ratios, rating agency expectations, the generation of free cash
flow and an evaluation of the costs and benefits associated with
alternative uses of capital. Our stock repurchases may be effected
from time to time through open market purchases or in privately
negotiated transactions and may be made pursuant to an accelerated
share repurchase agreement or plans designed to comply with Rule
10b5-1(c) under the Securities Exchange Act of 1934, as amended.
The purchase program may be suspended, modified or terminated at
any time.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor,
Pennsylvania, Lincoln Financial Group is the marketing name for
Lincoln National Corporation (NYSE:LNC) and its affiliates. The
company had $322 billion in end-of-period account values as of
September 30, 2021. Lincoln Financial Group is a committed
corporate citizen included on major sustainability indices
including the Dow Jones Sustainability Index North America and
FTSE4Good. Dedicated to diversity and inclusion, we earned perfect
100 percent scores on the Corporate Equality Index and the
Disability Equality Index, and rank among Newsweek’s Most
Responsible Companies. Learn more at: www.LincolnFinancial.com.
Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up
for email alerts at http://newsroom.lfg.com.
Forward-Looking Statements – Cautionary Language
Certain statements made in this press release are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 (“PSLRA”). A
forward-looking statement is a statement that is not a historical
fact and, without limitation, includes any statement that may
predict, forecast, indicate or imply future results, performance or
achievements. Forward-looking statements may contain words like:
“anticipate,” “believe,” “estimate,” “expect,” “project,” “shall,”
“will” and other words or phrases with similar meaning in
connection with a discussion of future operating or financial
performance. In particular, these include statements relating to
future actions, performance or financial results, including our
plans to repurchase shares and debt, and the timing thereof. Our
most recent Annual Report on Form 10-K, as well as other reports
that we file with the SEC, include risk factors that could affect
our future actions, businesses and financial performance and
results. Moreover, we operate in a rapidly changing and competitive
environment. New risk factors emerge from time to time, and it is
not possible for management to predict all such risk factors or to
assess the effect of all risk factors on our businesses or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements. Given these risks and uncertainties,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results. In addition, we
disclaim any obligation to update any forward-looking statements to
reflect events or circumstances that occur after the date of this
press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211112005697/en/
Al Copersino (203) 257-4493 Investor Relations
InvestorRelations@LFG.com Holly Fair (484) 583-1632 Media Relations
Holly.Fair@LFG.com
Lincoln National (NYSE:LNC)
Historical Stock Chart
From Feb 2024 to Mar 2024
Lincoln National (NYSE:LNC)
Historical Stock Chart
From Mar 2023 to Mar 2024