Equitable Holdings Inc - EQH STOCK NEWS

Equitable Holdings (NYSE: EQH) has announced the pricing terms for its cash tender offer to purchase certain debt securities. The offer includes three series of notes: 4.572% Senior Notes due 2029, 7.000% Senior Debentures due 2028, and 5.000% Senior Notes due 2048. As of June 14, 2024, $370.05 million, $99.29 million, and $607.14 million have been tendered for these notes, respectively.

Payment for accepted tenders will include an Early Tender Premium of $30 per $1,000 principal and accrued interest up to, but not including, the early settlement date, expected on June 20, 2024. The tender offer expires on July 2, 2024, unless extended or terminated. Key players include TD Securities, Goldman Sachs, and J.P. Morgan as dealer managers, and Global Bondholder Services as the tender and information agent.

Equitable Holdings, a leading financial services company, announced the early results of its cash tender offer to purchase outstanding debt securities. The maximum aggregate purchase price has been increased from $500 million to $569.289 million. Notably, $1.076 billion of notes were validly tendered by the early deadline, exceeding the new purchase limit. The company will accept up to the revised maximum amount based on acceptance priority levels, with specific figures for each series of notes. Accepted tenders will receive early tender premiums and accrued interest until the early settlement date, expected on June 20, 2024. The tendered notes will be retired and canceled upon purchase.

Equitable has announced that financial professionals can now manage VUL Optimizer® variable universal life insurance policies through their Corporate Endowment Solutions (CES) platform. CES offers a comprehensive service from initial sales to ongoing policy management, enhancing the ability to track and optimize life insurance policies. The platform is also accessible to clients, providing transparency and ease of use. The VUL Optimizer® product includes over 80 investment options and aims to maximize future income for policyholders. The CES platform supports policies with premiums of $20,000 or more and offers daily value access, annual reviews, and strategic asset allocation models.

Equitable Holdings (NYSE: EQH) has announced a cash tender offer to purchase up to $500 million of its outstanding debt securities. The offer prioritizes the 4.572% Senior Notes due 2029, the 7.000% Senior Debentures due 2028, and the 5.000% Senior Notes due 2048. The tender offer is subject to a Financing Condition, requiring proceeds from new issuance and sale of eligible assets. Key dates include an early tender deadline on June 14, 2024, and expiration on July 2, 2024. Payments for early and late tenders will be made on June 20, 2024, and July 5, 2024, respectively.

Equitable Holdings (NYSE: EQH), a leading financial services company, announced that its CEO, Mark Pearson, and CFO, Robin Raju, will participate in a fireside chat at the 2024 Morgan Stanley US Financials, Payments, and CRE Conference. The event is scheduled for Monday, June 10, 2024, at 9:30 a.m. ET. A live audio webcast of the session will be available on Equitable Holdings' Investor Relations website. Participants are advised to log on at least 15 minutes prior to the event for any necessary software installation. A replay will be accessible on the same website after the live session.

Equitable Holdings (NYSE: EQH) has appointed Peter Tian as Group Treasurer, effective June 3, 2024. Reporting to CFO Robin M. Raju, Tian will join the Operating Committee. His responsibilities include managing banking relationships, capital and liquidity management, and overseeing hedging programs and third-party debt. Tian succeeds Julia Zhang, now Chief Risk Officer. Erik Bass, Head of Investor Relations, will handle ratings agency relationships. Tian, who joined Equitable in 2019, brings over a decade of industry experience, previously leading product and in-force management for Individual Retirement. He holds a degree in Biomedical Engineering from Yale University.

Equitable Holdings (NYSE: EQH) has declared a quarterly cash dividend of $0.24 per share of common stock, marking a 9% increase over the previous quarter. The dividend is payable on June 10, 2024, to shareholders of record as of June 3, 2024.

Additionally, the company’s board has declared several dividends for preferred stocks. For Series A 5.25% Non-Cumulative Perpetual Preferred Stock, a quarterly dividend of $328.125 per share (or $0.328125 per depositary share) is payable on June 17, 2024, to holders of record on June 4, 2024.

For Series B 4.95% Non-Cumulative Perpetual Preferred Stock, a semi-annual dividend of $618.750 per share (or $24.75 per depositary share) is payable on June 17, 2024, to holders of record on June 4, 2024.

For Series C 4.30% Non-Cumulative Perpetual Preferred Stock, a quarterly dividend of $268.750 per share (or $0.26875 per depositary share) is payable on June 17, 2024, to holders of record on June 4, 2024.

Equitable Holdings, Inc. reported strong Q1'24 results with Non-GAAP operating earnings up 49% to $1.43 per share. Net inflows of $1.5 billion and positive Asset Management active net inflows of $3.7 billion. Shareholders received $326 million, meeting the 60-70% payout ratio target. Equitable is well-positioned for growth in Retirement, Asset Management, and Wealth Management businesses.