After reporting record profits last year, Unum Corp. announced today it is boosting its quarterly dividend by 15 percent. Unum will pay a quarterly dividend of 23 cents per share, up from the previous quartelry dividend of 20 cents per share, on Aug. 18 to shareholders of record as of July 31.
The Chattanooga-based insurer earned a record net income of $931.4 million in 2016, up from $867.1 million in 2015, and the company said it expects after-tax operating income growth per share to be within a range of 3 percent to 6 percent this year.
Unum Group is a leading provider of financial protection benefits in the United States and the United Kingdom. Its primary businesses are Unum US, Colonial Life, Starmount and Unum UK. Unum's portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs.
The company reported revenues of $11 billion in 2016, and provided $6.9 billion in benefits.