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AIG doubles dividend, lifts buyback as profit tops estimates

American International Group Inc. more than doubled its dividend and increased its share buyback by $5 billion after asset sales helped build up cash, even as results slumped at some of the main insurance operations.

By Sonali Basak | Updated on August 04, 2015
AIG has been selling non-insurance assets and returning cash to shareholders as the company focuses on strengthening units that provide property-casualty and life coverage.

(Bloomberg) — American International Group Inc. more than doubled its dividend and increased its share buyback by $5 billion after asset sales helped build up cash, even as results slumped at some of the main insurance operations.

Net income slipped to $1.8 billion, or $1.32 a share, from $3.07 billion, or $2.10, a year earlier, New York-based AIG said in a statement Monday. Operating profit, which excludes some investing results, was $1.39 a share, beating the $1.21 average estimate of 21 analysts surveyed by Bloomberg.

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