The Board of Directors of Ameriprise Financial, Inc. (AMP) has authorized an additional $2.5 billion for the repurchase of shares of its common stock through April 28, 2016.
The company intends to fund share repurchases through existing working capital, future earnings and other customary financing methods. The share repurchase program does 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 program may be made in the open market, through privately negotiated transactions or block trades or other means.
In addition, the company has increased its regular quarterly dividend by 12 percent, or $0.06 per share, to $0.58. The quarterly dividend is payable on May 23, 2014 to shareholders of record as of May 9, 2014.
This news release contains certain forward-looking statements regarding the timing and manner of, and the sources of funding for, the company’s purchase of shares pursuant to the share repurchase program. Such statements reflect management’s plans, estimates and beliefs, and are subject to risks and uncertainties, which could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this release, which speak only as of the date hereof. We undertake no obligation to update publicly or revise such forward-looking statements.
At Ameriprise Financial, we have been helping people feel confident about their financial future for 120 years. With a nationwide network of 10,000 financial advisors and extensive asset management, advisory and insurance capabilities, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs. For more information, visit ameriprise.com.
© 2014 Ameriprise Financial, Inc. All rights reserved.
- Investment & Company Information
- Ameriprise Financial
- share repurchase
Paul Johnson, 612-671-0625