CHATTANOOGA, Tenn. – Unum Group (NYSE:UNM), an international provider of workplace benefits and services, announced today that its Board of Directors has declared a quarterly dividend of $0.365 per share on its common stock. The dividend is payable on May 17, 2024, to shareholders of record at the close of business on April 26, 2024.
Unum Group, known for its Unum and Colonial Life brands, offers a variety of insurance products including disability, life, accident, critical illness, dental, vision, and stop-loss insurance. The company also provides leave and absence management support and behavioral health services. In the previous year, Unum reported revenues exceeding $12 billion and paid out approximately $8 billion in benefits.
The company, which has operated for over 175 years, is part of the Fortune 500 and has been acknowledged as one of the World's Most Ethical Companies by Ethisphere®.
This dividend declaration is a continuation of Unum Group's commitment to returning value to its shareholders and reflects the company's financial performance and outlook.
The information provided is based on a press release statement from Unum Group.
InvestingPro Insights
Unum Group's recent dividend announcement underscores its strong track record of shareholder returns, highlighted by its consistent dividend payments. Reflecting on the company's financial health, InvestingPro data indicates a solid market capitalization of $9.63 billion and an attractive price-to-earnings (P/E) ratio of 7.7, which further dips to 7.48 when adjusted for the last twelve months as of Q4 2023.
These figures suggest that Unum's stock is potentially undervalued compared to earnings, offering an enticing opportunity for value investors.
Moreover, Unum has demonstrated a stable revenue growth of 3.35% in the last twelve months, leading up to Q4 2023, with a gross profit margin of 33.18%, indicating the company's ability to maintain profitability.
This is corroborated by InvestingPro Tips, which reveal that Unum has not only raised its dividend for 15 consecutive years but has also maintained these payments for an impressive 38 years. Moreover, the stock is known to trade with low price volatility, providing a degree of predictability and comfort for investors seeking steady performance.
Investors looking for further insights can find more InvestingPro Tips that delve into Unum's financial stability, including details on how the company's liquid assets exceed short-term obligations, and an analysis predicting profitability for the year.
For those interested in a comprehensive investment analysis, visit https://www.investing.com/pro/UNM to discover additional tips. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With a total of 7 additional InvestingPro Tips available, investors can gain a deeper understanding of Unum Group's investment potential.
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