CHATTANOOGA, Tenn., May 25, 2023 /PRNewswire/ -- At its annual shareholder's meeting today, Unum Group (NYSE: UNM) President and CEO Richard McKenney expressed confidence in Unum's strategy, growth outlook and financial flexibility.
As announced earlier this morning, Unum's board of directors authorized an increase of more than 10 percent in the quarterly dividend paid on its common stock. The new rate of 36.5 cents per common share, or $1.46 per share on an annual basis, will be effective with the dividend expected to be paid in the third quarter of 2023.
"We are in the business that benefits society and guided by a clear purpose of helping others," McKenney said. "As Unum celebrates its 175th anniversary, our purpose compels us to grow and evolve our business to serve even more individuals delivering lasting value to all of our constituents."
In 2022, Unum served 45 million individuals and their families, delivered nearly $8 billion in benefits, and provided benefits and workplace solutions to more than 181,000 companies.
Based on preliminary voting results, Unum shareholders elected 11 directors for terms expiring in 2024: Theodore Bunting, Jr., Susan Cross, Susan DeVore, Joseph Echevarria, Cynthia Egan, Kevin Kabat, Timothy Keaney, Gale King, Gloria Larson, Richard McKenney, and Ronald O'Hanley; approved, on an advisory basis, the compensation of our named executive officers; voted, on an advisory basis, in favor of holding future advisory votes on the compensation of our named executive officers every year; and ratified the appointment of EY as our independent auditor for 2023. Francis Shammo retired from the board today. Unum expects to publish the final voting results in a Form 8-K filing with the SEC within the next four business days.
Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management's current expectations and beliefs concerning future developments and their potential effects upon Unum Group and its subsidiaries. Unum Group's actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in Part 1, Item 1A (Risk Factors) of Unum Group's Annual Report on Form 10-K for the year ended December 31, 2023. The forward-looking statements in this release speak only as of the date of this release, and Unum Group does not undertake to update any particular forward-looking statement included in this release.
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 $12.0 billion and paid $7.9 billion in benefits. The Fortune 500 company is one of the 2023 World's Most Ethical Companies, recognized by Ethisphere®.
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SOURCE Unum Group