CHARLOTTE, N.C.--(BUSINESS WIRE)--Brighthouse Financial, Inc. (Nasdaq: BHF) announced today that it has authorized the repurchase of up to $500 million of Brighthouse Financial common stock. The stock repurchase program is in addition to the $600 million aggregate stock repurchase authorizations announced in May 2019 and August 2018. Since the announcement of the company’s first stock repurchase authorization in August 2018, the company has repurchased a total of approximately $570 million of its common stock through January 2020.

“We are pleased to announce our third stock repurchase program, which, assuming full utilization, will bring us to more than 70 percent of our goal to return $1.5 billion of capital to our shareholders through 2021,” said Eric Steigerwalt, president and chief executive officer, Brighthouse Financial. “This new program reflects our financial strength, our ongoing commitment to returning capital over time and the progress we continue to make as we execute our strategy.”

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

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.