American Equity Investment To Additionally Buy Back $500 Mln Of Shares

(RTTNews) - American Equity Investment Life Holding Company (AEL) on Monday said its Board of Directors has authorized it to buy back an additional $500 million of the company's common shares.

The total authorization now stands at $736 million, which the company plans to offset any future dilution from shares to be issued to Brookfield Reinsurance for its planned increased stake in the company from 9.9% to 15-19.9%.

Additionally, the Board declared a dividend of $0.34 per share, a $0.02 per share increase from the last time, to be paid on December 13, 2021, to stockholders as of record on November 29, 2021.