has propped up its annual dividend by 22%, to 95 cents a share.
The Newark, N.J., insurer says it will pay the dividend on Dec. 21 to shareholders of record as of Nov. 27.
Prudential, which has $586 billion in assets under management, has also authorized a new share-buyback plan $3 billion for next year. The company still has $300 million worth of common stock to repurchase under its current buyback plan.
Shares of Prudential closed up 33 cents on Tuesday at $79