Corebridge Q2 Net Loss Narrows to $16M, Declares $0.25 Dividend
CRBG sits 42% above its 52-week low of $22.19.
Summary
Corebridge's Q2 net loss shrank dramatically to $16M from $660M a year ago, driven by lower realized losses. Adjusted operating income fell 24% to $512M, with premiums and deposits down 13% on weaker annuity sales. The board declared a $0.25 quarterly dividend, payable September 30. This follows the earlier Reuters report on the operating income decline and comes amid the pending all-stock merger with Equitable Holdings, which shareholders approved last week.
At the time of this announcement, CRBG was trading at $31.60 on NYSE in the Finance sector, with a market capitalization of approximately $14.1B. The 52-week trading range was $22.19 to $36.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.