Unum Group’s board of directors votes to increase common stock dividend

By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- Unum Group (NYSE:UNM) announced that its board of directors has authorized an increase of 13 percent in the quarterly dividend paid on its common stock. The new rate of 26 cents per common share, or $1.04 per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2018 (see also Unum Group).

"We are pleased to again increase our dividend payout. This is representative of our consistent performance and financial strength as well as our commitment to returning value to shareholders," said Richard P. McKenney, president and CEO of Unum.

The new quarterly dividend represents a 247 percent increase from the 7.5 cents per share the company was paying in 2008 and marks the tenth consecutive year in which Unum has raised its dividend. Unum has also repurchased approximately $3.4 billion of its stock, reducing its outstanding share count by almost 36 percent, since the fourth quarter of 2008. ABOUT UNUM Unum Group (www.unum.com) is a leading provider of financial protection benefits in the United States and the United Kingdom. Its primary businesses are Unum US, Colonial Life, Starmount and Unum UK. Unum's portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs. The company reported revenues of $11.3 billion in 2017, and provided $6.9 billion in benefits.

For more information, visit us at www.unum.com or connect with us at www.facebook.com/unumbenefits, twitter.com/unumnews and www.linkedin.com/company/unum. View source version on businesswire.com: https://www.businesswire.com/news/home/20180524005716/en/

Keywords for this news article include: Business, Unum Group, Banking and Finance, Investment and Finance.

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