Unum calls 2017 ‘outstanding,’ addresses stock price
The company reported earnings per share growth of more than 10 percent, record net income of nearly
"With the outstanding results generated by our core businesses in 2017, we entered 2018 better positioned than ever for the long term," said McKenney. "There is tremendous opportunity to grow our company."
But, McKenney noted the fall in the company's share price, which has dropped from about
"We've always been vocal about how we are managing our closed block of legacy long-term care policies, and we have been very active in optimizing performance of this block over time," he said. "Let's be clear that this remains a challenging business. We have been taking the actions necessary to ensure that it doesn't detract from the solid performance of our core businesses, which continue to grow profitably."
Separately today, Unum's board of directors authorized the repurchase of up to
The board also authorized an increase of 13 percent in the quarterly dividend paid on its common stock. The new rate of
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