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8-K - FORM 8-K - METLIFE INC | y89721e8vk.htm |
Exhibit 99.1
Contacts:
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For Media: | John Calagna | ||
(212) 578-6252 | ||||
For Investors: | John McCallion | |||
(212) 578-7888 |
METLIFE ANNOUNCES FIRST QUARTER 2011 PREFERRED STOCK
DIVIDEND ACTIONS, SUBJECT TO FINAL CONFIRMATION
DIVIDEND ACTIONS, SUBJECT TO FINAL CONFIRMATION
NEW YORK, February 18, 2011 MetLife, Inc. (NYSE: MET) announced today that it has declared first
quarter 2011 dividends of $0.2500000 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), subject to the final
confirmation that it has met the financial tests specified in the Series A and Series B preferred
stock, which the company anticipates will be made on or about March 7, 2011. Both dividends will be
payable March 15, 2011 to shareholders of record as of February 28, 2011.
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 the actual future results of MetLife, Inc. and its subsidiaries. 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
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Exchange Commission (the SEC). These factors include: (1) difficult conditions in the global
capital markets; (2) increased volatility and disruption of the capital and credit markets, which
may affect our ability to seek financing or access our credit facilities; (3) 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; (4) impact of
comprehensive financial services regulation reform on us; (5) exposure to financial and capital
market risk; (6) changes in general economic conditions, including the performance of financial
markets and interest rates, which may affect our ability to raise capital, generate fee income and
market-related revenue and finance statutory reserve requirements and may require us to pledge
collateral or make payments related to declines in value of specified assets; (7) potential
liquidity and other risks resulting from our participation in a securities lending program and
other transactions; (8) investment losses and defaults, and changes to investment valuations; (9)
impairments of goodwill and realized losses or market value impairments to illiquid assets; (10)
defaults on our mortgage loans; (11) the impairment of other financial institutions that could
adversely affect our investments or business; (12) our ability to address unforeseen liabilities,
asset impairments, loss of key contractual relationships, or rating actions arising from
acquisitions or dispositions, including our acquisition of American Life Insurance Company
(Alico), a subsidiary of ALICO Holdings LLC (Alico Holdings), and Delaware American Life
Insurance Company (collectively, the Acquisition) and to successfully integrate and manage the
growth of acquired businesses with minimal disruption; (13) 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; (14) 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, in
connection with the Acquisition; (15) the dilutive impact on our stockholders resulting from the
issuance of equity securities to Alico Holdings in connection with the Acquisition; (16) downward
pressure on our stock price as a result of Alico Holdings ability to sell its equity securities;
(17) the conditional payment obligation of approximately $300 million to Alico Holdings if the
conversion of the preferred stock issued to Alico Holdings in connection with the Acquisition into
our common stock is not approved; (18) economic, political, currency and other risks relating to
our international operations, including with respect to fluctuations of exchange rates; (19) our
primary reliance, as a holding company, on dividends from our subsidiaries to meet debt payment
obligations and the applicable regulatory restrictions on the ability of the subsidiaries to pay
such dividends; (20) downgrades in our and our affiliates claims paying ability, financial
strength or credit ratings; (21) ineffectiveness of risk management policies and procedures; (22)
availability and effectiveness of reinsurance or indemnification arrangements, as well as default
or failure of counterparties to perform; (23) discrepancies between actual claims experience and
assumptions used in setting prices for our products and establishing the liabilities for our
obligations for future policy benefits and claims; (24) catastrophe losses; (25) 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; (26) unanticipated changes in
industry trends; (27) changes in accounting standards, practices and/or policies; (28) changes in
assumptions related to deferred policy acquisition costs, deferred sales inducements, value of
business acquired or goodwill; (29) increased expenses relating to pension and postretirement
benefit plans, as well as health care and other employee benefits; (30) 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; (31) deterioration in the
experience of the closed block established in connection with the reorganization of Metropolitan
Life Insurance Company; (32) adverse results or other consequences from litigation, arbitration or
regulatory investigations; (33) inability to protect our intellectual property rights or claims of
infringement of the intellectual property rights of others, (34) discrepancies between actual
experience and assumptions used in establishing liabilities related to other contingencies or
obligations; (35) regulatory, legislative or tax changes relating to our insurance, banking,
international, or other operations that may affect the cost of, or demand for, our products or
services, impair our ability to attract and retain talented and experienced management and other
employees, or increase the cost or administrative burdens of providing benefits to employees; (36)
the effects of business disruption or economic contraction due to terrorism, other hostilities, or
natural catastrophes, including any related impact on our disaster recovery systems and management
continuity planning which could impair our ability to conduct business effectively; (37) the
effectiveness of our programs and practices in avoiding giving our associates incentives to take
excessive risks; and (38) other risks and uncertainties described from time to time in MetLife,
Inc.s filings with the SEC.
We do not undertake any obligation to publicly correct or update any forward-looking statement if
we later become 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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