MetLife board approves $3 billion buyback program, its biggest ever

November 10, 2016 7:19 AM EST

The MetLife building is seen in New York, March 8, 2010. REUTERS/Shannon Stapleton/File Photo


Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.

(Reuters) - MetLife Inc (NYSE: MET) said on Thursday its board had approved a new $3 billion share buyback program, its largest ever.

If the company bought shares at Wednesday's closing price of $51.28, it would be able to repurchase about 58 million shares, according to Reuters calculation.

MetLife has about 1.1 billion shares outstanding.

MetLife's stock was up 2 percent at $52.30 in light premarket trading on Thursday. Up to Wednesday's close, the stock had risen 6.4 pct this year.

(Reporting by Richa Naidu in Bengaluru; Editing by Ted Kerr)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Related Entities

Stock Buyback

Add Your Comment