AIG Boosts Quarterly Dividend 11% to $0.50 After Strong Q1 Profit
Summary
American International Group announced an 11% increase in its quarterly dividend to $0.50 per share, marking its fourth consecutive year of raising the dividend by over 10%. This capital allocation decision follows the company's strong first-quarter profit of $763 million, or $1.41 per share, which was reported earlier today. The dividend boost, representing a 2.7% annual yield, signals robust financial health and management's confidence in sustained profitability. This move is a positive development for shareholders, demonstrating a commitment to returning capital and could provide support for the stock.
At the time of this announcement, AIG was trading at $75.80 on NYSE in the Finance sector, with a market capitalization of approximately $40.1B. The 52-week trading range was $71.25 to $87.46. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.