MetLife Announces New $3 Billion Share Repurchase Authorization

Rhea-AI Summary

MetLife, Inc. (NYSE: MET) announced a new $3 billion stock repurchase authorization, building on the $475 million remaining from its previous program initiated in August 2021. CEO Michel Khalaf stated that this decision reflects confidence in MetLife's financial strength and aligns with their strategy for balanced capital management, aimed at fostering profitable growth and increasing common dividends.

Positive

• New $3 billion stock repurchase authorization demonstrates confidence in financial strength.
• Incremental to the $475 million remaining from prior buyback, indicating continued shareholder value focus.
• Commitment to increasing common dividends supports long-term investor confidence.

Negative

• None.

NEW YORK--(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. The new authorization is incremental to the $475 million remaining under the company’s prior authorization announced in August 2021.

Commenting on the announcement, MetLife President and CEO Michel Khalaf said: “This new share repurchase authorization demonstrates our confidence in MetLife’s financial strength and is consistent with a balanced approach to capital management as we continue to invest in profitable growth and consistently increase our common dividend.”

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 individual and institutional customers build a more confident future. 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 “consistent,” “continue,” and “demonstrates,” 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/20220504005982/en/

For Media:

Meredith Hyland

212-578-9415

Meredith.Hyland@metlife.com

For Investors:

John Hall

212-578-7888

John.A.Hall@metlife.com

Source: MetLife, Inc.

FAQ

What is the reason for MetLife's stock buyback announcement?

MetLife announced a $3 billion buyback to demonstrate confidence in its financial strength and to pursue a balanced capital management strategy.

How much stock did MetLife have left from its previous buyback authorization?

MetLife had $475 million remaining from its previous stock repurchase authorization announced in August 2021.

What impact might the $3 billion repurchase have on MetLife's stock price?

The $3 billion repurchase authorization is expected to enhance shareholder value and could potentially support a higher stock price.