Press release
Brighthouse Financial Announces $500 Million Stock Repurchase Program
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":" CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has authorized the repurchase of up to $500 million of Brighthouse Financial common stock. The stock repurchase program is in addition to the $600 million aggregate stock repurchase authorizations announced in May 2019 and August 2018. Since the announcement of the company’s first stock repurchase authorization in August 2018, the company has repurchased a total of approximately $570 million of its common stock through January 2020.\n\n\n“We are pleased to announce our third stock repurchase program, which, assuming full utilization, will bring us to more than 70 percent of our goal to return $1.5 billion of capital to our shareholders through 2021,” said Eric Steigerwalt, president and chief executive officer, Brighthouse Financial. “This new program reflects our financial strength, our ongoing commitment to returning capital over time and the progress we continue to make as we execute our strategy.”\n\n\nRepurchases 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.\n\n\nNote Regarding Forward-Looking Statements\n\n\nThis news release and other oral or written statements that we make from time to time may contain information that includes or is based upon forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements using words such as “anticipate,” “estimate,” “expect,” “project,” “may,” “will,” “could,” “intend,” “goal,” “target,” “guidance,” “forecast,” “preliminary,” “objective,” “continue,” “aim,” “plan,” “believe” and other words and terms of similar meaning, or that are tied to future periods, in connection with a discussion of future operating or financial performance. In particular, these include, without limitation, statements relating to future actions, prospective services or products, future performance or results of current and anticipated services or products,...