MetLife To Repurchase Up To $1 Billion In Stock

by Categorized: Uncategorized Date:

MetLife will spend as much as $1 billion to repurchase shares of common stock, the company said this week.

This is the first share buyback since 2008.

MetLife Chairman and CEO Steven A. Kandarian said in a statement that the company’s philosophy is that excess capital belongs to MetLife shareholders.

“The challenge is to strike the right balance between adherence to our philosophy and recognition that MetLife’s required capital levels remain unknown if we are designated a non-bank systemically important financial institution, or SIFI, under the Dodd-Frank Act,” Kandarian said.

Those capital requirements will be determined by the U.S. Federal Reserve.

“We anticipated that the non-bank SIFI capital rules would be known by now, but recent statements by the Federal Reserve suggest that we may not see draft rules until 2015,” Kandarian said in a statement. “Meanwhile, our capital continues to grow, and later this year we will raise $1 billion as the last tranche of equity units issued to fund the Alico purchase converts to common shares.”

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.

3 thoughts on “MetLife To Repurchase Up To $1 Billion In Stock

  1. angielski Szczecin

    Great artwork! This is the form of information and facts that ought to be discussed over the website. Feel bad for on yahoo without more time placing this publish higher! Occur around and discuss with this site. Thanks a lot Implies)

  2. video double penetration

    by natural means just like your web-site nevertheless you need to test out the actual spelling in several within your content. A variety of them are usually rife together with punctuational complications and i also to seek out the item very annoying to express to reality in contrast I will absolutely keep coming back just as before.

  3. gpen review

    Appreciate your any helpful website. The site in addition could I receive that type expertise printed in this kind of ideal suggests? I own a challenge that we’re just now operating about, we are actually in the peek outside intended for similarly info.

Comments are closed.