Unum Group's board of directors authorizes $500 million share repurchase program

Rhea-AI Summary

Unum Group (NYSE:UNM) announced a share repurchase program authorizing the company to repurchase up to $500 million of its common stock starting on January 1, 2024. The program follows the company's current share repurchase program, which expires on December 31, 2023.

CHATTANOOGA, Tenn., Oct. 31, 2023 /PRNewswire/ -- Unum Group (NYSE:UNM) announced today that its board of directors has approved a share repurchase program authorizing the company to repurchase up to $500 million of its common stock from time to time beginning on January 1, 2024. This program follows the company's current share repurchase program, which expires on December 31, 2023.

The timing and amount of share repurchases will be determined by management based on its evaluation of market conditions and other considerations. Repurchases may be made in open market transactions at prevailing prices, in privately negotiated transactions (including accelerated share repurchase programs), pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, or by other means in accordance with federal securities laws. The program may be suspended, modified, or terminated by the board at any time.

About Unum Group
Unum Group (NYSE: UNM), an international provider of workplace benefits and services, has been helping workers and their families for 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support and behavioral health services. In 2022, Unum reported revenues of about $12 billion and paid $8 billion in benefits. The Fortune 500 company is one of the 2023 World's Most Ethical Companies, recognized by Ethisphere®.

Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/unum-groups-board-of-directors-authorizes-500-million-share-repurchase-program-301973297.html

SOURCE Unum Group

FAQ

What did Unum Group announce?

Unum Group announced a share repurchase program.

How much is Unum Group authorized to repurchase?

Unum Group is authorized to repurchase up to $500 million of its common stock.

When will the share repurchase program start?

The share repurchase program will start on January 1, 2024.

What happens to the current share repurchase program?

The current share repurchase program expires on December 31, 2023.

How will the timing and amount of share repurchases be determined?

The timing and amount of share repurchases will be determined by management based on market conditions and other considerations.

How can the repurchases be made?

Repurchases may be made in open market transactions, privately negotiated transactions, pursuant to preset trading plans meeting the requirements of Rule 10b5-1, or by other means in accordance with federal securities laws.

Can the program be suspended or terminated?

Yes, the program may be suspended, modified, or terminated by the board at any time.