CHARLOTTE, N.C.--(BUSINESS WIRE)--Brighthouse Financial, Inc. (Nasdaq: BHF) today announced that it has authorized the repurchase of up to $400 million of Brighthouse Financial common stock. The stock repurchase program supplements the company’s $200 million stock repurchase program announced in August 2018. As of April 30, 2019, the company has repurchased $171 million of its common stock under the August 2018 authorization.

“We are pleased to announce this second stock repurchase program, which contributes significantly to our goal of returning $1.5 billion of capital to our shareholders by 2021,” said Eric Steigerwalt, president and chief executive officer, Brighthouse Financial. “This additional program reflects our financial strength and ongoing commitment to returning capital over time.”

Repurchases under the program may be made through open market purchases, including pursuant to 10b5-1 plans or pursuant to accelerated stock repurchase plans, from time to time at management’s discretion in accordance with applicable federal securities laws.

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S., we specialize in products designed to help people protect what they’ve earned and ensure it lasts. Learn more at brighthousefinancial.com.