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8-K - FORM 8-K - METLIFE INC | y87693e8vk.htm |
Exhibit 99.1
Contacts:
|
For Media: | John Calagna | ||
(212) 578-6252 | ||||
For Investors: | Conor Murphy | |||
(212) 578-7788 |
METLIFE DECLARES FOURTH QUARTER 2010 PREFERRED STOCK DIVIDENDS
NEW YORK, November 15, 2010 MetLife, Inc. (NYSE: MET) announced today that it has declared
fourth quarter 2010 dividends of $0.2527777 per share on the companys floating rate non-cumulative
preferred stock, Series A (NYSE: METPrA), and $0.4062500 per share on the companys 6.50%
non-cumulative preferred stock, Series B (NYSE: METPrB). Both dividends are payable December 15,
2010 to shareholders of record as of November 30, 2010.
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs,
serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates,
MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific,
Europe and the Middle East. For more information, visit www.metlife.com.
This press release may contain or incorporate by reference information that includes or is
based upon forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events.
These statements can be identified by the fact that they do not relate strictly to historical or
current facts. They use words such as anticipate, estimate, expect, project, intend,
plan, believe and other words and terms of similar meaning in connection with a discussion of
future operating or financial performance. In particular, these include statements relating to
future actions, prospective services or products, future performance or results of current and
anticipated services or products, sales efforts, expenses, the outcome of contingencies such as
legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate
assumptions or by known or unknown risks and uncertainties. Many such factors will be important in
determining MetLifes actual future results. These statements are based on current expectations and
the current economic environment. They involve a number of risks and uncertainties that are
difficult to predict. These statements are not guarantees of future performance. Actual results
could differ materially from those expressed or implied in the forward-looking statements. Risks,
uncertainties, and other factors that might cause such differences include the risks, uncertainties
and other factors identified in MetLife, Inc.s filings with the U.S. Securities and Exchange
Commission (the SEC). These factors include: (1) the imposition of onerous conditions following
the acquisition of American Life Insurance Company (ALICO), a subsidiary of ALICO Holdings LLC
(ALICO Holdings) and Delaware American Life Insurance Company (DelAm) (collectively, the
Acquisition); (2) difficulties in integrating the business acquired in the Acquisition (the
Alico Business); (3) uncertainty with respect to the outcome of the
closing agreement entered into between ALICO and the United States Internal Revenue Service in
connection with the Acquisition; (4) uncertainty with respect to the making of elections under
Section 338 of the U.S. Internal Revenue Code of 1986, as amended, and any benefits therefrom; (5)
an inability to manage the growth of the Alico Business; (6) a writedown of the goodwill
established in connection with the Acquisition; (7) exchange rate fluctuations; (8) an inability to
predict the financial impact of the Acquisition on MetLifes business and financial results; (9)
events relating to American International Group, Inc. (AIG) that could adversely affect the Alico
Business or MetLife; (10) the dilutive impact on MetLife, Inc.s stockholders resulting from the
issuance of equity securities to ALICO Holdings in connection with the Acquisition; (11) a decrease
in MetLife, Inc.s stock price as a result of ALICO Holdings ability to sell its equity
securities; (12) the conditional payment obligation of approximately $300 million to ALICO Holdings
if the conversion of the Series B Contingent Convertible Junior Participating Non-Cumulative
Perpetual Preferred Stock (Series B Preferred Stock) issued to ALICO Holdings in connection with
the Acquisition into MetLife, Inc.s common stock is not approved; (13) change of control
provisions in the Alico Business agreements; (14) effects of guarantees within certain of the
Alico Business variable life and annuity products; (15) regulatory action in the financial
services industry affecting the combined business; (16) financial instability in Europe and
possible writedowns of sovereign debt of European nations; (17) difficult conditions in the global
capital markets; (18) increased volatility and disruption of the capital and credit markets, which
may affect MetLifes ability to seek financing or access its credit facilities; (19) uncertainty
about the effectiveness of the U.S. governments programs to stabilize the financial system, the
imposition of fees relating thereto, or the promulgation of additional regulations; (20) impact of
comprehensive financial services regulation reform on MetLife; (21) exposure to financial and
capital market risk; (22) changes in general economic conditions, including the performance of
financial markets and interest rates, which may affect MetLifes ability to raise capital, generate
fee income and market-related revenue and finance statutory reserve requirements and may require
MetLife to pledge collateral or make payments related to declines in value of specified assets;
(23) potential liquidity and other risks resulting from MetLifes participation in a securities
lending program and other transactions; (24) investment losses and defaults, and changes to
investment valuations; (25) impairments of goodwill and realized losses or market value impairments
to illiquid assets; (26) defaults on MetLifes mortgage loans; (27) the impairment of other
financial institutions; (28) MetLifes ability to address unforeseen liabilities, asset
impairments, or rating actions arising from any future acquisitions or dispositions, and to
successfully integrate acquired businesses with minimal disruption; (29) economic, political,
currency and other risks relating to MetLifes international operations; (30) MetLife, Inc.s
primary reliance, as a holding company, on dividends from its subsidiaries to meet debt payment
obligations and the applicable regulatory restrictions on the ability of the subsidiaries to pay
such dividends; (31) downgrades in MetLife, Inc.s and its affiliates claims paying ability,
financial strength or credit ratings; (32) ineffectiveness of risk management policies and
procedures; (33) availability and effectiveness of reinsurance or indemnification arrangements, as
well as default or failure of counterparties to perform; (34) discrepancies between actual claims
experience and assumptions used in setting prices for MetLifes products and establishing the
liabilities for MetLifes obligations for future policy benefits and claims; (35) catastrophe
losses; (36) heightened competition, including with respect to pricing, entry of new competitors,
consolidation of distributors, the development of new products by new and existing competitors,
distribution of amounts available under U.S. government programs, and for personnel; (37)
unanticipated changes in industry trends; (38) changes in accounting standards, practices and/or
policies; (39) changes in assumptions related to deferred policy acquisition costs (DAC),
deferred sales inducements (DSI), value of business acquired (VOBA) or goodwill; (40) increased
expenses relating to pension and postretirement benefit plans, as well as health care and other
employee benefits; (41) exposure to losses related to variable annuity guarantee benefits,
including from significant and sustained downturns or extreme volatility in equity markets, reduced
interest rates, unanticipated policyholder behavior, mortality or longevity, and the adjustment for
nonperformance risk; (42) deterioration in the experience of the closed block established in
connection with the reorganization of MLIC; (43) adverse results or other consequences from
litigation, arbitration or regulatory investigations; (44) discrepancies between actual experience
and assumptions used in establishing liabilities related to other contingencies or obligations;
(45) regulatory, legislative or tax changes relating to MetLifes insurance, banking,
international, or other operations that may affect the cost of, or demand for, MetLifes products
or services, impair its ability to attract and retain talented and experienced management and other
employees, or increase the cost or administrative burdens of providing benefits to employees; (46)
the effects of business disruption or economic contraction due to terrorism, other hostilities, or
natural catastrophes; (47) the effectiveness of MetLifes programs and practices in avoiding giving
its associates incentives to take excessive risks; (48) other risks and uncertainties described
from time to time in MetLife, Inc.s filings with the SEC; and (49) any of the foregoing factors as
they relate to the Alico Business and its operations.
MetLife, Inc. does not undertake any obligation to publicly correct or update any forward-looking
statement if MetLife, Inc. later becomes aware that such statement is not likely to be achieved.
Please consult any further disclosures MetLife, Inc. makes on related subjects in reports to the
SEC.
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