AIG 2013 Annual Report Download - page 317

The following table presents a rollforward of preferred stock:
Balance, January 1, 2011 $ 41,605 $ 7,378 $ 23,000 $ 71,983
Shares Exchanged (41,605) (7,378) (23,000) (71,983)
Balance, December 31, 2011 $ – $ – $ – $ –
Payment of future dividends to our shareholders and repurchases of AIG Common Stock depends in part on the
regulatory framework that we are currently subject to and that will ultimately be applicable to us, including as a
savings and loan holding company, a systemically important financial institution under the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank) and a global systemically important insurer. In addition, dividends
are payable on AIG Common Stock only when, as and if declared by our Board of Directors in its discretion, from
funds legally available therefor. In considering whether to pay a dividend or purchase shares of AIG Common Stock,
our Board of Directors considers such matters as the performance of our businesses, our consolidated financial
condition, results of operations and liquidity, available capital, the existence of investment opportunities, contractual,
legal and regulatory restrictions on the payment of dividends by our subsidiaries, rating agency considerations,
including the potential effect on our debt ratings, and such other factors as our Board of Directors may deem
relevant.
AIG paid a dividend of $0.10 per share on AIG Common Stock on each of September 26, 2013 and December 19,
2013.
On August 1, 2013, our Board of Directors authorized the repurchase of shares of AIG Common Stock, with an
aggregate purchase price of up to $1.0 billion, from time to time in the open market, private purchases, through
forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. The timing of such
repurchases will depend on market conditions, our financial condition, results of operations, liquidity and other
factors. For the year ended December 31, 2013, we repurchased approximately 12 million shares of AIG Common
Stock for an aggregate purchase price of approximately $597 million pursuant to this authorization.
Through registered public offerings, the Department of the Treasury has disposed of all of its ownership of AIG
Common Stock as of December 31, 2012, from ownership of approximately 92 percent (1.7 billion shares) prior to
the completion of the first registered public offering initiated by the Department of the Treasury as selling shareholder
in May 2011. During 2012, the Department of the Treasury, as selling shareholder, completed registered public
offerings of AIG Common Stock on March 13 (the March Offering), May 10 (the May Offering), August 8 (the August
Offering), September 14 (the September Offering) and December 14 (the December Offering). We participated as a
purchaser in the first four 2012 offerings. Each of these purchases was authorized by our Board of Directors.
Dividends and Repurchase of AIG Common Stock
Share Issuances and Purchases
AIG Common Stock Offerings by the Department of the Treasury and AIG Purchases of AIG Common
Stock in 2012
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AIG 2013 Form 10-K 299
ITEM 8 / NOTE 16. EQUITY
Total
Preferred
(in millions) AIG Series E AIG Series F AIG Series C Stock
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