Prudential Financial Announces Quarterly Dividend and 2022 Share Repurchase Authorization

Rhea-AI Summary

Prudential Financial (NYSE: PRU) has declared a quarterly dividend of $1.15 per share, payable on December 16, 2021, to shareholders of record as of November 23, 2021. Additionally, the Board has authorized a share repurchase program of up to $1.5 billion, to be executed between January 1, 2022 and December 31, 2022. Share repurchases will be based on market conditions and may include various transaction methods, enhancing shareholder value amid its global operations managing over $1.5 trillion in assets.

Positive

• Quarterly dividend of $1.15 per share enhances shareholder returns.
• Share repurchase authorization of $1.5 billion signals confidence in stock valuation.
• Strong asset management with over $1.5 trillion in assets under management supports company stability.

Negative

• None.

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) announced today the declaration of a quarterly dividend of $1.15 per share of Common Stock, payable on December 16, 2021, to shareholders of record at the close of business on November 23, 2021.

Additionally, Prudential’s Board of Directors has authorized the repurchase of up to $1.5 billion of its outstanding Common Stock during the period from January 1, 2022 through December 31, 2022.

The timing and amount of any share repurchases under the Company’s share repurchase authorization will be determined by management based on market conditions and other considerations, and such repurchases may be executed in the open market, through derivative, accelerated repurchase and other negotiated transactions and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with more than $1.5 trillion in assets under management as of September 30, 2021, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109006424/en/

Julie Laskin

973-802-3975

julie.laskin@prudential.com

Source: Prudential Financial, Inc.

FAQ

What is the dividend amount declared by Prudential Financial (PRU)?

Prudential Financial has declared a quarterly dividend of $1.15 per share.

When is the dividend payment date for Prudential Financial (PRU)?

The dividend is payable on December 16, 2021.

What is the total amount authorized for share repurchase by Prudential Financial (PRU)?

Prudential Financial has authorized up to $1.5 billion for share repurchase.

When will Prudential Financial (PRU) execute its share repurchase plan?

The share repurchase program will be executed from January 1, 2022, through December 31, 2022.

What factors will influence Prudential Financial's (PRU) share repurchase decisions?

Share repurchase decisions will be influenced by market conditions and other considerations.