American International Group Turns To Profit In Q4; Boosts Dividend

(RTTNews) - American International Group, Inc. (AIG) Thursday reported fourth-quarter net income attributable to the company of $2.0 billion or $1.34 per share, compared to net loss of $4.0 billion or $2.68 per share in the comparable quarter last year.

After-tax operating income attributable to AIG was $1.7 billion or $1.15 per share, compared to $290 million or $0.20 per share in the prior year period. On average, 24 analysts polled by Thomson Reuters expected the company to earn $0.96 per share for the quarter. Analysts' estimates typically exclude special items.

Pre-tax income was $1.19 billion, compared to loss of $923 million last year. Net premiums written totaled $8.03 billion, up from $7.81 billion last year. Net investment income declined to $1.42 billion from $1.22 billion in the prior year period.

Separately, the company announced that it has declared a dividend of $0.125 per share on AIG common stock, par value $2.50 per share, an increase of $0.025. The dividend is payable on Tuesday, March 25, 2014, to stockholders of record at the close of business on Tuesday, March 11, 2014.

AIG also authorized the repurchase of additional shares of AIG Common Stock with an aggregate purchase price of up to $1.0 billion.