By Colin Kellaher
Cigna Group's board has raised the health insurer's quarterly dividend by 7.9%, to $1.51 from $1.40, and added $6 billion to the its share-repurchase plan.
The new payout, equal to $6.04 a year, represents an annual yield of about 1.99%, based on Wednesday's closing price of $303.31, up from 1.85%.
The Bloomfield, Conn., company on Thursday said the increased dividend is payable March 20 to shareholders of record March 5.
Cigna, which sports a market capitalization topping $84 billion, said it spent about $7 billion last year to buy back 20.9 million shares.
The company said the increased repurchase authorization brings its total buyback authority to $10.3 billion.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 30, 2025 07:33 ET (12:33 GMT)
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