Board of Directors Authorizes Repurchase of Additional Shares of AIG
NEW YORK--(BUSINESS WIRE)--Feb. 13, 2014--
American International Group, Inc. (NYSE: AIG) today announced the
following actions taken by its Board of Directors:
Declared a dividend of $0.125 per share on AIG common stock, par value
$2.50 per share (AIG Common Stock), an increase of $0.025. The
dividend is payable on Tuesday, March 25, 2014, to stockholders of
record at the close of business on Tuesday, March 11, 2014.
Authorized the repurchase of additional shares of AIG Common Stock
with an aggregate purchase price of up to $1.0 billion. As of February
13, 2014, AIG has repurchased approximately $600 million of shares of
AIG Common Stock pursuant to a prior authorization from the Board of
Directors to repurchase shares of AIG Common Stock with an aggregate
purchase price of up to $1.0 billion, resulting in an aggregate
remaining authorization of approximately $1.4 billion. Repurchases may
be made from time to time in the open market, private purchases,
through forward, derivative, accelerated repurchase or automatic
repurchase transactions, or otherwise.
“We are very pleased that these actions enable us to return a portion of
our success directly to our shareholders,” said Robert S. Miller,
Chairman of the Board of AIG. “AIG’s solid performance this year
underscores the strong fundamentals of our businesses, and builds upon
the momentum that we generated.”
Remarking on the dividend action and repurchase authorization, Robert H.
Benmosche, President and Chief Executive Officer of AIG, said: “These
actions reaffirm the Board’s confidence in our strategy, and build upon
the momentum generated by AIG’s strong fourth quarter and year-end
operating results. We are committed to success in every corner of our
business, and demonstrating what AIG can do.”
Certain statements in this press release constitute forward-looking
statements. These statements are not historical facts but instead
represent only AIG’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside AIG’s control. It is
possible that actual results will differ, possibly materially, from the
anticipated results indicated in these statements. Factors that could
cause actual results to differ, possibly materially, from those in the
forward-looking statements are discussed throughout AIG’s periodic
filings with the SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty networks
of any insurer. In addition, AIG companies are leading providers of life
insurance and retirement services in the United States. AIG common stock
is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGInsurance
| LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
Source: American International Group, Inc.
American International Group, Inc.
Liz Werner (Investors):
Diat (Media): 212-770-3505