American International Group Inc. declared a quarterly cash dividend of 20 cents per share yesterday, payable on March 21, 2008 to shareholders of record as of March 7, 2008.

The New York-based insurer also said its board of directors authorized replenishment of AIG's existing share repurchase program authorizing the repurchase of an additional $8 billion in common stock.

The company said it has substantially completed the repurchase of $5 billion in common stock and plans to repurchase the remaining $3 billion of the $8 billion authorized earlier in 2007 as market conditions permit.

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