By Tess Stynes
MetLife Inc. said its board raised the life insurer's quarterly
dividend by 7.1%, marking the third year in a row the payout to
shareholders has been boosted.
MetLife, the largest life insurer in the U.S. by assets, said
the dividend will rise to 37.5 cents a share, an increase of 2.5
cents a share. The boosted dividend is payable to shareholders of
record as of May 11.
Chairman and Chief Executive Steven A. Kandarian said the move
"demonstrates our continued commitment to maximizing long-term
shareholder value."
MetLife reported in February that it eked out a slight increase
in fourth-quarter operating profit though revenue edged down as the
life-insurance industry continued to wrestle with tough economic
conditions in many parts of the world.
During its fourth-quarter conference call, the company struck a
cautious tone. While it had $6.1 billion of "free cash," executives
at the time declined to say how much might land in shareholders'
pockets beyond its $1 billion share-buyback program.
The company plans to release its first-quarter results on May 6
after the market closes.
Write to Tess Stynes at tess.stynes@wsj.com
Access Investor Kit for MetLife, Inc.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US59156R1086
Subscribe to WSJ: http://online.wsj.com?mod=djnwires