MetLife Announces New $3 Billion Share Repurchase Authorization
11 December 2020 - 4:48PM
Business Wire
MetLife, Inc. (NYSE: MET)
today announced that its board of directors has approved a new $3
billion authorization for the company to repurchase its common
stock. MetLife, Inc. has completed repurchases under its prior
repurchase authorization.
Commenting on the
announcement, MetLife, Inc. President and CEO Michel Khalaf
said:
“Our philosophy on capital
management remains the same: Capital is precious and should be
deployed to its best use. Despite a challenging 2020, we expect by
year-end to have invested about $3 billion to support new business
growth at attractive returns and payback periods, deployed nearly
$1.7 billion to growth-oriented and accretive M&A, and returned
at least $2.6 billion to shareholders through common stock
dividends and repurchases while maintaining a liquidity buffer well
in excess of the $3-4 billion target. This new authorization
highlights our continuing confidence in our financial strength and
flexibility.”
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates ("MetLife"), is one of the world's leading financial
services companies, providing insurance, annuities, employee
benefits and asset management to help its individual and
institutional customers navigate their changing world. Founded in
1868, MetLife has operations in more than 40 markets globally and
holds leading positions in the United States, Japan, Latin America,
Asia, Europe and the Middle East. For more information, visit
www.metlife.com.
Forward-Looking Statements
The forward-looking statements in this news release, such as
“expect,” “look forward,” “target,” and “will,” are based on
assumptions and expectations that involve risks and uncertainties,
including the “Risk Factors” MetLife, Inc. describes in its U.S.
Securities and Exchange Commission filings. MetLife’s future
results could differ, and it has no obligation to correct or update
any of these statements.
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Media Contact: Randy Clerihue, 646-552-0533 Investor Contact:
John Hall, 212-578-7888
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