NEW YORK--(BUSINESS WIRE)--Equitable Holdings, Inc. (“Equitable Holdings”, or the “Company”) (NYSE: EQH) announced today that its Board of Directors has authorized a $1 billion share repurchase program.
“The uninterrupted execution of our capital management program highlights the strength and resiliency of our balance sheet. Combined with our strong performance amidst a challenging year, we remain confident in our ability to generate sustainable cash flows and return capital to shareholders,” said Anders Malmström, Chief Financial Officer of Equitable Holdings. “The announcement of a new $1 billion share repurchase authorization further evidences our commitment to delivering attractive capital returns and generating value for our shareholders.”
Under this authorization, the Company may, from time to time, purchase shares of its common stock through various means including open market transactions, privately negotiated transactions, forward, derivative, accelerated repurchase, or automatic share repurchase transactions, or tender offers. The authorization for the share repurchase program may be terminated, increased or decreased by the board of directors at any time.
About Equitable Holdings
Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $746 billion in assets under management (as of 9/30/2020) and more than 5 million client relationships globally.