CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”)
(Nasdaq: BHF) today announced that it has authorized the repurchase of
up to $400 million of Brighthouse Financial common stock. The stock
repurchase program supplements the company’s $200 million stock
repurchase program announced in August 2018. As of April 30, 2019, the
company has repurchased $171 million of its common stock under the
August 2018 authorization.
“We are pleased to announce this second stock repurchase program, which
contributes significantly to our goal of returning $1.5 billion of
capital to our shareholders by 2021,” said Eric Steigerwalt, president
and chief executive officer, Brighthouse Financial. “This additional
program reflects our financial strength and ongoing commitment to
returning capital over time.”
Repurchases under the program may be made through open market purchases,
including pursuant to 10b5-1 plans or pursuant to accelerated stock
repurchase plans, from time to time at management’s discretion in
accordance with applicable federal securities laws.
Note Regarding Forward-Looking Statements
This 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, sales efforts,
expenses, the outcome of contingencies such as legal proceedings, trends
in operating and financial results, as well as statements regarding the
expected benefits of the separation from MetLife, Inc.
Any or all forward-looking statements may turn out to be wrong. They can
be affected by inaccurate assumptions or by known or unknown risks and
uncertainties. Many such factors will be important in determining the
actual future results of Brighthouse Financial. These statements are
based on current expectations and the current economic environment and
involve a number of risks and uncertainties that are difficult to
predict. These statements are not guarantees of future performance.
Actual results could differ materially from those expressed or implied
in the forward-looking statements due to a variety of known and unknown
risks, uncertainties and other factors. Risks, uncertainties, and other
factors that might cause such differences include the risks,
uncertainties and other factors identified in Brighthouse Financial’s
most recent Annual Report on Form 10-K filed with the U.S. Securities
and Exchange Commission (the “SEC”), particularly in the sections
entitled “Risk Factors” and “Quantitative and Qualitative Disclosures
About Market Risk” as well as in Brighthouse Financial’s subsequent
filings with the SEC. Brighthouse Financial does not undertake any
obligation to update or revise any forward-looking statement to reflect
events or circumstances after the date on which the statement is made or
to reflect the occurrence of unanticipated events, except as otherwise
may be required by law.
About Brighthouse Financial, Inc.
Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on
a mission to help people achieve financial security. As one of the
largest providers of annuities and life insurance in the U.S., we
specialize in products designed to help people protect what they’ve
earned and ensure it lasts. Learn more at brighthousefinancial.com.
Contacts
FOR INVESTORS
David Rosenbaum
(980) 949-3326
[email protected]
FOR MEDIA
Meghan Lantier
(980) 949-4142
[email protected]
