"Symetra’s board of directors recently authorized a stock repurchase program for up to 10 million
shares. Through the program, Marra said the company will have greater flexibility to execute its
capital management plans in 2013. More details about the board’s action can be found in the
“Stock Repurchase Program” section of this earnings release."--Stock Repurchase Program
On Feb. 1, 2013, Symetra’s board of directors authorized the repurchase of up to 10 million
shares of the company’s outstanding common stock. Symetra’s 2013 earnings outlook reflects
the return of capital to shareholders through dividends and stock repurchases.
Under the stock repurchase program, purchases may be made from time to time in the open
market, in accelerated stock buyback arrangements, in privately negotiated transactions or
otherwise. The timing and amount of any stock repurchases will be based on market conditions
and other considerations. The program may be modified, extended or terminated by the board
of directors at any time.
• Total stockholders’ equity, or book value, as of Dec. 31, 2012, was $3,630.1 million, or
$26.29 per share, compared with $3,641.2 million, or $26.37 per share, as of Sept. 30,
• Adjusted book value as converted,1 as of Dec. 31, 2012, was $2,477.0 million, or
$17.94 per share, up from $2,455.0 million, or $17.78 per share, as of Sept. 30, 2012."
Correction-diluted book value is only $18/sh--"Stockholders’ Equity
Total stockholders’ equity, or book value, as of March 31, 2013, was $3,604.2 million, or $26.10 per share, compared with $3,630.1 million, or $26.29 per share, as of Dec. 31, 2012.
Adjusted book value as converted,1 as of March 31, 2013, was $2,529.2 million, or $18.32 per share, up from $2,477.0 million, or $17.94 per share, as of Dec. 31, 2012.
Stock repurchases during first quarter 2013 totaled 309,000 common shares at an average price per share of $13.46 and a total cost of $4.2 million. At March 31, 2013, there w