American Equity board authorizes stock repurchase program
Thursday, August 28, 2014 2:55 PM
The American Equity Investment Life Holding Co. board has authorized the company to repurchase up to 500,000 shares of its common stock during the next 12 months. The share repurchase program is intended to partially offset dilution that results from the exercise of stock options, American Equity President and CEO John Matovina said in a release. The publicly traded West Des Moines-based company, which specializes in the sale of equity-indexed annuities, will be retiring all of its outstanding convertible notes in less than 13 months. The stock repurchases will be made from time to time at the company's discretion in the open market, in privately negotiated transactions or otherwise as permitted by securities laws and other legal requirements.