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MetLife OKs $1 billion stock buyback


Published : Wed, 28 Feb 2007 23:52
By : Agencies
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NEW YORK (AP) - Insurance provider MetLife Inc. said Wednesday it authorized a $1 billion stock repurchase program.

The buyback program will begin after MetLife completes a $1 billion authorization announced in 2004, under which $208 million still remains.

Shares of MetLife, which has a market capitalization of about $48 billion, rose 36 cents to close at $63.16 on the New York Stock Exchange.

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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