MINNEAPOLIS--(BUSINESS WIRE)--
Ameriprise Financial, Inc. (NYSE:AMP) today announced that its board of
directors has authorized an additional expenditure of up to $2 billion
for the repurchase of shares of its common stock through June 28, 2013.
Through the first quarter of 2011, the company had repurchased $969
million of the current $1.5 billion authorization, and the remaining
capacity will continue to be available through the company’s 2012 annual
meeting of shareholders.
The company intends to fund share repurchases through existing working
capital, future earnings and other customary financing methods. The
share repurchase program does not require the purchase of any minimum
number of shares, and depending on market conditions and other factors,
these purchases may be commenced or suspended at any time without prior
notice. Acquisitions under the share repurchase program may be made in
the open market, through privately negotiated transactions or block
trades, or other means.
This news release contains certain forward-looking statements regarding
the timing and manner of, and the sources of funding for, the company’s
purchase of shares pursuant to the share repurchase program. Such
statements reflect management’s plans, estimates and beliefs, and are
subject to risks and uncertainties, which could cause actual results to
differ materially from such statements. Readers are cautioned not to
place undue reliance on the forward-looking statements contained in this
release, which speak only as of the date hereof. We undertake no
obligation to update publicly or revise such forward-looking statements.
Ameriprise Financial, Inc. is a diversified financial services company
serving the comprehensive financial planning needs of the mass affluent
and affluent. For more information, visit ameriprise.com.
© 2011 Ameriprise Financial, Inc. All rights reserved.
Source: Ameriprise Financial, Inc.
Contact:
Ameriprise Financial, Inc.
Investor Relations:
Alicia
A. Charity, 612-671-2080
alicia.a.charity@ampf.com
or
Media
Relations:
Paul W. Johnson, 612-671-0625
paul.w.johnson@ampf.com