MetLife Announces New $3 Billion Share Repurchase Authorization

Rhea-AI Summary

MetLife, Inc. (NYSE: MET) has received board approval for a new $3 billion stock repurchase program, adding to the $475 million remaining from a previous authorization. This initiative reflects MetLife's commitment to long-term shareholder value, as articulated by President and CEO Michel Khalaf. In the past year, the company invested approximately $5 billion for growth and increased its common dividend by 4.3% in April. The stock buyback aims to return excess capital to shareholders.

Positive

• New $3 billion stock repurchase authorization enhances shareholder value.
• Previous $475 million buyback still available, indicating ongoing commitment.
• Company invested approximately $5 billion in growth last year, reinforcing confidence in future performance.
• 4.3% increase in common dividend demonstrates a commitment to returning capital to shareholders.

Negative

• None.

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. The new authorization is incremental to the $475 million remaining under the company’s prior authorization announced in December 2020.

“We continue to pursue a balanced, long-term approach to creating shareholder value,” said MetLife President and CEO Michel Khalaf. “Last year, we invested approximately $5 billion to drive profitable growth both organically and through acquisition. This April, we announced a 4.3% increase in our common dividend. And today’s announcement reflects our commitment to returning excess capital to shareholders.”

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, using words such as “commitment,” “continue,” “drive,” “pursue” and “returning,” 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005978/en/

FAQ

What is the purpose of MetLife's new $3 billion stock buyback?

The new $3 billion stock buyback aims to return excess capital to shareholders and enhance long-term shareholder value.

How much was the remaining stock repurchase authorization before the new approval?

Before the new $3 billion approval, MetLife had $475 million remaining from a previous stock repurchase authorization.

What recent financial actions has MetLife taken to benefit shareholders?

MetLife invested approximately $5 billion in growth last year and announced a 4.3% increase in its common dividend in April.

When was the new stock buyback program approved?

The new stock buyback program was approved today by MetLife's board of directors.

What is the stock symbol for MetLife?

The stock symbol for MetLife is MET.