MetLife Announces New $3 Billion Share Repurchase Authorization

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.

Commenting on the announcement, Chairman, President and CEO Steven A. Kandarian said:

"Excess capital belongs to our shareholders, and we are pleased to announce our largest ever buyback authorization now that we have defined a capitalization and execution plan for the separation of Brighthouse Financial. Together with our dividend, which has grown by 116 percent over the past three years, this buyback authorization shows that our strategy of generating higher free cash flow is gaining momentum."

While MetLife is currently preparing for a transaction to spin-off a substantial portion of its U.S. Retail business, the ultimate form and timing of a separation will be influenced by a number of factors, including regulatory considerations and economic conditions.

About MetLife

MetLife, Inc. (NYSE:MET), through its subsidiaries and affiliates ("MetLife"), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

Forward-Looking Statements

This news release may contain or incorporate by reference information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning, or are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, trends in operations and financial results.

If you liked this article you might like

Goldman Sachs Could Be Another Negative Tell; Takeaways: Doug Kass' Views

5 Stocks That Look Good Short

Sears Is Facing a Colossal Problem That Might Ignite a Bear Raid

MetLife Asks for Changes to Protect Interest Payments, Dividends

Now You're Hearing Apple Roar: Market Recon