Brighthouse Financial, Inc. announced that it has authorized the repurchase of up to $1 billion of its common stock. The stock repurchase program is in addition to the $200 million stock repurchase authorization announced by the company in February 2021, under which $34 million remains as of August 4, 2021.
“We are pleased to announce this new authorization as it reflects our financial strength, positions us to achieve our goal of returning $1.5 billion to our shareholders by the end of this year and supports our ongoing commitment to return capital to our shareholders,” said Eric Steigerwalt, president and CEO, Brighthouse Financial. “Since the announcement of our first stock repurchase authorization in August of 2018 through August 4 of this year, we have repurchased almost $1.3 billion of our common stock, which represents a reduction of more than 31% of shares outstanding from the time we became an independent, public company.”
Repurchases under the program may be made through open market purchases, including pursuant to 10b5-1 plans or pursuant to accelerated stock repurchase plans, or through privately negotiated transactions, from time to time at management’s discretion in accordance with applicable legal requirements.
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