Unum Group To Buy Back Up To $750 Mln Of Shares; Hikes Dividend

(RTTNews) - Unum Group (UNM) announced that its board has authorized the repurchase of up to $750 million of the company's outstanding common stock through November 26, 2017. This new authorization replaces the previous authorization of $750 million that was scheduled to expire on November 21, 2016.

Unum Group also announced that its board of directors has authorized an increase of 8 percent in the quarterly dividend paid on its common stock. The new rate of 20 cents per common share, or 80 cents per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2016.