The Hartford Increases 2013-14 Capital Management Plan , Boosts Buyback and Dividend

The Hartford's board of directors approved a $750 million increase in the company's 2013-14 equity repurchase authorization, bringing the total authorization, which expires on December 31, 2014, to $1.25 billion. To date, the company has repurchased $166 million of common shares and warrants under the existing authorization. In addition, the board of directors has decided to raise the quarterly dividend paid to common shareholders by 50%, from $0.10 per share to $0.15 per share, when it declares the next regularly scheduled dividend, payable on October 1, 2013. “The financial position, capital flexibility and risk profile of the company have continued to improve, particularly with Talcott Resolution's capital self-sufficiency,” said The Hartford's Chairman, President and CEO Liam E. McGee. “As a follow up to the April 11th investor meeting, we are pleased to share the next phase of The Hartford's capital management plan, which reflects our commitment to use excess capital for capital management actions and reinvestment in the businesses.”