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AEL - American Equity Investment Life authorizes $500M in additional repurchase
American Equity Investment Life Holding Company
American Equity Investment Life (NYSE:AEL) board authorized repurchase of an additional $500M of its common stock; total available authorization for share repurchase is $736M. The company plans to utilize the total amount for returning capital to shareholders and for offsetting any future dilution from shares to be issued to Brookfield Reinsurance as part of its planned increased stake in the company from 9.9% to 15-19.9%. The company also declared a dividend of $0.34/share.