AIG 2015 Annual Report Download - page 169

ITEM 7 / LIQUIDITY AND CAPITAL RESOURCES
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169
Dividends and Repurchases of AIG Common Stock
On February 12, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $0.125 per share, payable
on March 26, 2015 to shareholders of record on March 12, 2015. On April 30, 2015, our Board of Directors declared a cash
dividend on AIG Common Stock of $0.125 per share, payable on June 25, 2015 to shareholders of record on June 11, 2015.
On August 3, 2015, our Board of Directors declared a cash dividend on AIG Common Stock of $0.28 per share, payable on
September 28, 2015 to shareholders of record on September 14, 2015. On November 2, 2015, our Board of Directors declared
a cash dividend on AIG Common Stock of $0.28 per share, payable on December 21, 2015 to shareholders of record on
December 7, 2015.
On February 11, 2016, our Board of Directors declared a cash dividend on AIG Common Stock of $0.32 per share, payable on
March 28, 2016 to shareholders of record on March 14, 2016. The payment of any future dividends will be at the discretion of
our Board of Directors and will depend on various factors, including the regulatory framework applicable to us, as discussed
further in Note 16 to the Consolidated Financial Statements.
Our Board of Directors has authorized the repurchase of shares of AIG Common Stock through a series of actions. On
December 16, 2015, our Board of Directors authorized an additional increase of $3.0 billion to the previous share repurchase
authorization.
During 2015, we repurchased approximately 182 million shares of AIG Common Stock for an aggregate purchase price of
approximately $10.7 billion pursuant to this authorization. The total number of shares of AIG Common Stock repurchased in
2015 includes (but the aggregate purchase price does not include) approximately 3.5 million shares of AIG Common Stock
received in January 2015 upon the settlement of an ASR agreement executed in the fourth quarter of 2014. Pursuant to
Exchange Act Rule 10b5-1 repurchase plans, from January 1 to February 11, 2016, we have repurchased approximately $2.5
billion of additional shares of AIG Common Stock.
On February 11, 2016, our Board of Directors authorized an additional increase to the repurchase authorization of AIG
Common Stock of $5.0 billion, resulting in a remaining authorization on such date of approximately $5.8 billion. Shares may
be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase
or automatic repurchase transactions or otherwise (including through the purchase of warrants). Certain of our share
repurchases have been and may from time to time be effected through Exchange Act Rule 10b5-1 repurchase plans. The
timing of any future share repurchases will depend on market conditions, our financial condition, results of operations, liquidity
and other factors, including the regulatory framework applicable to us.
Dividend Restrictions
Payments of dividends to AIG by its insurance subsidiaries are subject to certain restrictions imposed by regulatory authorities.
See Note 18 to the Consolidated Financial Statements for a discussion of restrictions on payments of dividends by our
subsidiaries.