Ameriprise Financial Authorizes Additional $1 Billion Share Repurchase Program, Increases Regular Quarterly Dividend to $0.15.MINNEAPOLIS -- Ameriprise Financial Ameriprise Financial, Inc. (NYSE: AMP) is a company offering financial advice and products. It is the successor to American Express Financial Advisors (AEFA), which was a subsidiary of the American Express Company. , Inc. (NYSE NYSE See: New York Stock Exchange :AMP) announced today that its board of directors has authorized the expenditure of up to an additional $1 billion for the repurchase of shares of its common stock through March 15, 2009. This action reflects the board's confidence in the Company's business fundamentals business fundamentals The general background within which an economy operates including earnings, sales, wage rates, taxes, and inflation. Improving business fundamentals are generally viewed as bullish for stocks, although stock prices at any given point , strong balance sheet and current excess capital position. The new authorization is in addition to two previous share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. programs - a January 2006 authorization for 2 million shares of common stock and a March 2006 authorization for up to $750 million. The Company intends to fund share repurchases through existing working capital, future earnings, debt capacity and other customary financing methods. The current share repurchase authorizations do not require the purchase of any minimum number of shares, and depending on market conditions and other factors, these purchases may be commenced or suspended at any time without prior notice. Acquisitions under the share repurchase authorizations may be made in the open market, through block trades or other means. In addition to the new repurchase authorization, the Company announced that its board of directors declared an increase in the Company's regular quarterly dividend on its common stock to $0.15 per share from $0.11 per share payable on May 18, 2007 to shareholders of record at the close of business on May 4, 2007. Ameriprise Financial, Inc. is a leading financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and services company with more than 12,000 financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. The Company's financial advisors deliver tailored solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent and affluent. Financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal and investments are available through Ameriprise Financial Services, Inc. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . For more information, visit ameriprise.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This news release contains a forward-looking statement that reflects the Company's intention regarding the sources of funding for share repurchases. There can be no assurance that these are the exclusive sources of funds that may be utilized for share repurchases, or that the Company will repurchase any of its shares. Actual results may differ materially, and readers are cautioned not to place undue reliance on the forward-statement contained in this release, which speaks only as of the date on which it is made, or the existence of share repurchase authorizations, which can go unutilized or be suspended at any time. The Company undertakes no obligation to update publicly or revise the forward-looking statement contained in this release. |
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