HARTFORD, Conn. – The Board of Directors of Aetna Inc. (NYSE: AET) today announced the following actions:
The Board declared an increased quarterly cash dividend of $0.25 per share on the company's common stock. The dividend was declared on November 21, 2014, and is payable on January 30, 2015, to shareholders of record at the close of business on January 15, 2015. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change. Most recently, the company paid a $0.225 quarterly dividend on October 31, 2014.
The Board authorized the company to repurchase up to an additional $1 billion of its common stock from time to time. This authorization is in addition to the approximately $464 million of repurchase authority available under Aetna's prior authorization as of November 20, 2014. The company intends to continue buying shares in the open market from time to time.
"The decision to increase the dividend by 11 percent demonstrates confidence in our strategy, our capital position and our cash flows," said Mark T. Bertolini, Aetna chairman, CEO and president. "Along with the authorization for additional share repurchases, the increased dividend is in keeping with Aetna's commitment to enhance total return for our shareholders."
Aetna is one of the nation’s leading diversified health care benefits companies, serving an estimated 46 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services, workers’ compensation administrative services and health information technology products and services. Aetna’s customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.
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