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AIG's board approves dividend of USD0.125 per share and buy back of USD3.5bn additional shares.

M2 EQUITYBITES-May 1, 2015-AIG's board approves dividend of USD0.125 per share and buy back of USD3.5bn additional shares

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American International Group Inc's (AIG) (NYSE:AIG) board of directors approved a dividend of USD0.125 per share on the company's common stock of par value USD2.50 per share, besides, the board authorised the repurchase of additional shares of the company's common stock with a total purchase price of up to USD3.5bn, it reported on Thursday.

The dividend will be paid on 25 June 2015 to stockholders of record at the close of business on 11 June 2015.

During the first quarter, the company bought back about 1.4bn common stock under earlier authorisations and about USD800m additional stock till the end of April 2015. Therefore, its aggregate remaining share repurchase authorisation, inclusive of this news release, is about USD3.8bn and stock buying may take place regularly in the open market, private purchases, via forward, derivative, accelerated buy back or automatic repurchase transactions, or otherwise.

The company is an insurance organisation serving in over 100 countries and jurisdictions and is even listed in Tokyo, besides New York. AIG is the marketing name for the property-casualty, life and retirement and general insurance operations of the company, it added.

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Publication:M2 EquityBites (EQB)
Date:May 1, 2015
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