AIG Board of Directors Authorizes Repurchase of Additional Shares of AIG Common Stock, Declares Common Stock Dividend
April 30 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 $3.5 billion. During the first quarter, AIG repurchased
approximately $1.4 billion of shares of AIG Common Stock, pursuant
to prior authorizations from the Board of Directors. AIG
repurchased an additional approximately $800 million through the
end of April 2015. AIG’s aggregate remaining share repurchase
authorization, inclusive of today’s announced $3.5 billion
authorization, is approximately $3.8 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 dividend of $0.125 per share
on AIG common stock, par value $2.50 per share. The dividend is
payable on June 25, 2015, to stockholders of record at the
close of business on June 11, 2015.
“We are very pleased to increase our share repurchase
authorization by $3.5 billion,” said Robert S. Miller, Chairman of
the Board of Directors of AIG. “AIG’s first quarter results showed
progress on our financial targets and a continued commitment to
balance sheet and capital management. Our results demonstrate the
strong fundamentals of our businesses, and build on the momentum we
have generated.”
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.
American International Group, Inc.Investors:Liz Werner,
212-770-7074elizabeth.werner@aig.comorInvestors:Fernando Melon,
212-770-4630fernando.melon@aig.comorMedia:Jennifer Hendricks
Sullivan, 212-770-3141jennifer.sullivan@aig.com
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