Ameriprise Financial Announces Additional $2 Billion Share Repurchase Program

Ameriprise Financial, Inc. AMP today announced that its board of directors has authorized an additional expenditure of up to $2 billion for the repurchase of shares of its common stock through June 28, 2013. Through the first quarter of 2011, the company had repurchased $969 million of the current $1.5 billion authorization, and the remaining capacity will continue to be available through the company's 2012 annual meeting of shareholders. The company intends to fund share repurchases through existing working capital, future earnings and other customary financing methods. The share repurchase program does not require the purchase of any minimum number of shares, and depending on market conditions and other factors, these purchases may be commenced or suspended at any time without prior notice. Acquisitions under the share repurchase program may be made in the open market, through privately negotiated transactions or block trades, or other means.