AXA Equitable Holdings Announces $300 Million Increase in Share Repurchase Program
NEW YORK--(BUSINESS WIRE)--Nov 12, 2018--AXA Equitable Holdings, Inc. (“AXA Equitable Holdings”, or the “Company”) (NYSE: EQH) announced today that its Board of Directors has authorized a $300 million increase to its share repurchase program, bringing the total authorization to $800 million.
“We are pleased to announce the increase of our share repurchase program by $300 million,” said Mark Pearson, President and CEO of AXA Equitable Holdings. “We believe the total $800 million authorization further demonstrates the Board’s confidence in our ability generate profitable growth and underscores our commitment to returning capital to shareholders.”
Under this authorization, the Company may, from time to time, purchase shares of its common stock through various means including open market transactions, privately negotiated transactions (including share repurchases from AXA S.A.), forward, derivative, accelerated repurchase, or automatic share repurchase transactions, or tender offers. The $800 million share repurchase authorization expires on March 31, 2019 (unless extended), and does not obligate the company to purchase any shares. The authorization for the share repurchase program may be terminated, increased or decreased by the board of directors at any time. Under this program, the Company has already repurchased approximately $57 million through September 30, 2018.
ABOUT AXA EQUITABLE HOLDINGS
AXA Equitable Holdings, Inc. (NYSE: EQH) is one of the leading financial services companies in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein. We have been helping clients prepare for their financial future since 1859 and have a combined total of more than 12,100 employees and financial professionals, 5.3 million customer relationships and $668 billion of assets under management (as of 09/30/18).
View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005770/en/
CONTACT: AXA Equitable Holdings, Inc.
Kevin Molloy: +1 212-314-2476
Gina Tyler: +1 212-314-2010
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: EQH Investor Relations
Copyright Business Wire 2018.
PUB: 11/12/2018 04:35 PM/DISC: 11/12/2018 04:35 PM