MetLife Swings to $620 million loss and Declares Dividend (MET)

Thu. October 29, 2009; Posted: 04:13 PM

Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) -- MET | Quote | Chart | News | PowerRating -- 10/29/2009-MetLife (NYSE:MET) reported Q3 EPS of 87 cents, inline with consensus estimates. Revenues in the quarter slipped 1% year-over-year to $12.41 billion, but came in ahead of consensus estimates of $12.25 billion. The company's board declared an annual dividend of $0.74 per share.

"During the quarter, MetLife delivered an 18% increase in operating earnings compared with the third quarter of 2008 despite the current economic challenges," said C. Robert Henrikson, Chairman, President & Chief Executive Officer of MetLife, Inc. "Our businesses are performing well, as evidenced by increased sales in a number of product areas in both the U.S. and internationally. Over the course of 2009, MetLife's premiums, fees & other revenues -- as well as net investment income -- have continued to increase each quarter, and book value has grown 10% over the third quarter of 2008 and 27% over the second quarter of 2009. We are also benefiting from the expense savings we have achieved through our Operational Excellence initiative."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Metlife Inc (MET) click here. Metlife Inc (MET) has Short Term PowerRatings of 6. Details on Metlife Inc (MET) Short Term PowerRatings is available at This Link.

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