Globe Life Board Boosts Buyback Program to $1.8 Billion

Dow Jones11-18 20:26

By Colin Kellaher

Globe Life's board has beefed up the insurer's stock buyback program.

Globe Life on Monday said the board approved the repurchase of up to $1.8 billion of common stock, adding that the authorization replaces a $1.3 billion program approved in April.

The McKinney, Texas, company, which had about 83.9 million shares outstanding as of Oct. 31, sports a market capitalization of nearly $9.2 billion.

Globe Life shelled out $910 million to buy back 9.7 million shares during the first nine months of 2023.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 18, 2024 07:26 ET (12:26 GMT)

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