MINNETONKA, Minn.--(BUSINESS WIRE)-- UnitedHealth Group (NYSE:UNH) today announced that its Board of Directors authorized payment of a cash dividend of $0.1625 per share, to be paid on June 21, 2011, to all shareholders of record of UnitedHealth Group common stock as of the close of business on June 7, 2011. This represents an increase over the quarterly dividend of $0.125 per share the Company paid beginning with the second quarter of 2010. Future dividend payments are subject to Board approval and may be adjusted as business needs or market conditions change.
The Board also renewed the Company’s Share Repurchase Program, authorizing the purchase of 110 million shares over time. This Board Action replaces the February 2010 authorization to purchase up to 120 million shares (or approximately 10 percent of the Company’s shares then outstanding). As of April 30, 2011, there were 28 million shares remaining under the prior authorization, and the Company had approximately 1.1 billion common shares outstanding.
David S. Wichmann, executive vice president and chief financial officer, UnitedHealth Group, stated, “These actions reflect continued growth in our benefits and services businesses, where we have increased both the number of people we serve and the ways and places in which we engage with and support the health system. We intend to continue to provide dividend payments based on our underlying business performance, while the share repurchase program continues to be a longstanding means of returning shareholders’ capital to them.”
This press release may contain statements, estimates, projections, guidance or outlook that constitute "forward-looking" statements as defined under U.S. federal securities laws. Generally the words "believe," "expect," "intend," "estimate," "anticipate," "plan," "project," "will" and similar expressions, identify forward-looking statements, which generally are not historical in nature. These statements may contain information about financial prospects, economic conditions, trends and uncertainties and involve risks and uncertainties. We caution that actual results could differ materially from those that management expects, depending on the outcome of certain factors, including our future cash and capital requirements.
About UnitedHealth Group
UnitedHealth Group (NYSE: UNH) is a diversified health and well-being company dedicated to helping people live healthier lives and making health care work better. With headquarters in Minnetonka, Minn., UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. Through its businesses, UnitedHealth Group serves more than 75 million people worldwide. Visit About UnitedHealth Group www.unitedhealthgroup.com for more information.
John Penshorn, 952-936-7214
Brett Manderfeld, 952-936-7216
Don Nathan, 952-936-1885
KEYWORDS: United States North America Minnesota
INDUSTRY KEYWORDS: Health Professional Services Insurance Managed Care