NEW YORK: American International Group Inc <AIG.N> announced its first capital return since its 2008 bailout, through a dividend and share buyback, sending its shares up 6 percent after the bell.
The insurer, which was almost wiped out by its derivative bets in the crash five years ago, reported a quarterly profit that handily beat Wall Street estimates, along with a quarterly dividend of 10 cents and a share buyback of up to $1 billion.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
