Prudential Financial, Inc. (NYSE: PRU) today announced that its Board of
Directors has authorized the repurchase of up to $1.0 billion of its
outstanding Common Stock during the period from July 1, 2014 through
June 30, 2015.
In June 2013, the Board authorized the repurchase of up to $1.0 billion
of its outstanding Common Stock through June 30, 2014. The company has
repurchased approximately $750 million of its Common Stock through March
31, 2014 under that authorization.
Management will determine the timing and amount of any share repurchases
under the share repurchase authorizations based on market conditions and
other considerations. The repurchases may be effected in the open
market, through derivative, accelerated repurchase and other negotiated
transactions, and through plans designed to comply with Rule 10b5-1(c)
under the Securities Exchange Act of 1934, as amended.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
more than $1.1 trillion of assets under management as of March 31, 2014,
has operations in the United States, Asia, Europe and Latin America.
Prudential’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth
through a variety of products and services, including life insurance,
annuities, retirement-related services, mutual funds and investment
management. In the U.S., Prudential’s iconic Rock symbol has stood for
strength, stability, expertise and innovation for more than a century.
For more information, please visit http://www.news.prudential.com/
Copyright Business Wire 2014