Invesco to repurchase $1 billion of MassMutual-held preferred stock at 15% premium
Invesco agreed on April 21, 2025 to buy back $1 billion of its 5.9% Series A preferred stock from MassMutual, a significant shareholder owning about 18.2% of common shares, at a 15% premium to liquidation preference. The all-cash deal, funded through debt financing, is expected to close in May 2025 and is expected to be earnings accretive beginning in the second half of 2025, while the company also raised its quarterly common dividend.
Key points
- Repurchase of $1 billion of Series A preferred stock at a 15% premium to liquidation preference, expected to close in May 2025
- Funded through debt financing; MassMutual will continue to hold $3 billion of preferred stock after the repurchase
- Invesco expects the repurchase to be earnings accretive beginning in the second half of 2025
- Quarterly common dividend increased from $0.205 to $0.210 per share; Barings and MassMutual also announced a U.S. wealth partnership with MassMutual's initial $650 million support
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 22, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.