American Equity Advances Return of Capital to Shareholders
22 Novembre 2021 - 12:45PM
Business Wire
Declares increased common stock dividends
and additional repurchase authorization
American Equity Investment Life Holding Company (“American
Equity”) (NYSE: AEL), a leading provider of financial dignity
solutions through general account annuities, announced today that
its Board of Directors has authorized repurchase of an additional
$500 million of the Company’s common stock. The total available
authorization for share repurchase is $736 million, which the
company intends to utilize to return capital to shareholders and to
offset any future dilution from shares to be issued to Brookfield
Reinsurance as part of its planned increased stake in the company
from 9.9% to 15-19.9%.
The Board also declared a dividend of $0.34 per common share, an
increase of $0.02 per share from the last common stock dividend.
The dividend record date is November 29, 2021 and its payment date
is December 13, 2021.
“This is a pivotal time for American Equity as we reimagine our
traditional annuity business and shift to a model that provides
sustainable investments and recurring revenue in order to provide
our policyholders with financial dignity in retirement,” explained
Anant Bhalla, American Equity President and CEO. “As a result of
our pace of execution, we are delivering on our promise to
shareholders by increasing our common stock dividend and repurchase
authorization.”
ABOUT AMERICAN EQUITY
At American Equity Investment Life Holding Company, we think of
ourselves as The Financial Dignity Company. Our policyholders work
with independent agents, banks and broker-dealers through our
wholly-owned operating subsidiaries, to choose one of our leading
annuity products best suited for their personal needs to create
financial dignity in retirement. To deliver on its promises to
policyholders, American Equity has re-framed its investments focus
– building a stronger emphasis on insurance liability driven asset
allocation and specializing in alternate, private asset management.
American Equity is headquartered in West Des Moines, Iowa with
satellite offices slated to open in 2022 in Charlotte, NC and New
York, NY.
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version on businesswire.com: https://www.businesswire.com/news/home/20211122005710/en/
Steven Schwartz | Head of Investor Relations American Equity
Investment Life Holding Company® 515-273-3763 |
sschwartz@american-equity.com
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