Welcome to our dedicated page for Unum Group news (Ticker: UNM), a resource for investors and traders seeking the latest updates and insights on Unum Group stock.
Unum Group (NYSE: UNM) is a Fortune 500 company and a leader in disability, group life, and voluntary benefits. For over 175 years, Unum has been committed to helping workers and their families thrive. The company offers a broad range of insurance products such as disability, life, accident, critical illness, dental, vision, and stop-loss insurance, as well as leave and absence management support and behavioral health services through its Unum and Colonial Life brands.
Unum Group operates through three primary business segments: Unum US, which generates the majority of the company's revenue, Unum International, and Colonial Life. These segments serve diverse markets across the United States, the United Kingdom, Poland, and other countries.
In 2022, Unum reported revenues of approximately $12 billion and paid $8 billion in benefits. The company has been recognized as one of the World's Most Ethical Companies by Ethisphere and continues to be a socially responsible organization with a strong commitment to community service and positive change.
Unum's recent achievements reflect its financial and operational strength. In 2023, the company reported net income of $330.6 million ($1.69 per diluted common share) for the fourth quarter, compared to $289.2 million ($1.44 per diluted common share) for the same period in 2022. The company's strong performance was driven by robust premium and sales growth, effective cost management, and a strategic focus on technology and digital transformation.
Furthermore, Unum's financial strength and debt ratings have been upgraded by leading rating agencies, affirming the company's solid financial position and operational execution. Unum's technology initiatives have also earned accolades, with the company being named one of America's Most Innovative Companies by Forbes and receiving several prestigious technology awards.
Unum's strategic focus includes investing in technology to enhance customer experiences by providing high-quality, digital-first services. The company's leadership in this area has been recognized with awards for innovation and digital transformation. Unum's robust capital position and consistent profitability enable it to return significant capital to shareholders while also investing in future growth opportunities.
Unum Group remains well-positioned to achieve its earnings growth objectives, driven by favorable market conditions and strong demand for its comprehensive suite of insurance products and services. The company's commitment to innovation, customer satisfaction, and financial strength ensures it continues to provide valuable benefits and support to its diverse customer base.
Unum Group (NYSE: UNM) announced a 10 percent increase in its quarterly dividend, raising it to 33.0 cents per share, effective in the third quarter of 2022. CEO Rick McKenney expressed confidence in the company's future, citing strong sales and premium growth as key drivers of profitability. In 2021, Unum paid $8.2 billion in benefits and reported revenues of $12.0 billion. Shareholders elected 12 directors for terms expiring in 2023 and approved the 2022 Stock Incentive Plan. Forward-looking statements in the release caution potential differences in actual results.
Unum Group (NYSE: UNM) announced a 10% increase in its quarterly dividend, raising it to 33 cents per share, which translates to $1.32 annually. This change reflects the company's strong operational performance and solid capital position. The new dividend will be effective starting in the third quarter of 2022. CEO Richard P. McKenney expressed satisfaction with this decision as part of the capital deployment strategy. The announcement coincided with Unum's Annual Meeting of Shareholders held virtually.
Unum Group (NYSE: UNM) reported a net income of $253.5 million ($1.25 per diluted share) for Q1 2022, up from $153.0 million ($0.75 per diluted share) in the previous year. After-tax adjusted operating income was $277.3 million ($1.36 per diluted share), reflecting 15-20% growth for 2022, an increase from the prior outlook of 4-7%. Key segments showed positive performance, with the Unum US segment's adjusted operating income rising 48.3% to $171.6 million. The company maintained a strong liquidity position with $1.3 billion and a risk-based capital ratio of 400%.
The Unum Group (NYSE: UNM) announced a quarterly dividend of $0.30 per share on April 15, 2022, to be paid on May 20, 2022. This dividend is for stockholders of record by April 29, 2022. Unum has been providing workplace benefits for over 170 years and reported revenues of $12.0 billion in 2021, with $8.2 billion paid in benefits. The company is recognized as one of the 2022 World's Most Ethical Companies.
Unum Group (NYSE: UNM) will announce its first quarter 2022 results on May 5, 2022, at approximately 4:15 p.m. EST. The earnings release and financial supplement will be accessible on the company’s website. A conference call to discuss the results will take place on May 6, 2022, at 8 a.m. EST. Interested parties can join via toll-free numbers provided for U.S., Canada, and international callers. A recording will be available until May 13, 2022.
Unum (NYSE: UNM) has elected Gale V. King, former CAO and executive vice president at Nationwide Mutual Insurance, to its board of directors. King, who has over 37 years of experience in insurance, will join Unum's Human Capital and Risk and Finance Committees on May 1, 2022. Recognized for her work in building strong workplace cultures and promoting diversity, she brings valuable insights to Unum's leadership. In 2021, Unum generated $12.0 billion in revenue and paid $8.2 billion in benefits, affirming its status as a leading provider of workplace benefits.
Unum has introduced a new employee benefit allowing payroll deductions for an emergency savings fund. This initiative is aimed at improving financial wellness among its workforce, as 34% of U.S. workers have under $1,000 in savings. The plan allows eligible employees to save without fees and offers investment options similar to their 401(k) accounts. Financial insecurity is high, with 57% of workers able to pay bills for three months or less if income is lost. Unum provides additional resources like financial wellness checkups and student debt relief programs.
Unum Group (NYSE: UNM) will host a virtual investor meeting on February 25, 2022, from 8:00 AM to 9:30 AM EST. Interested participants can join the meeting via a toll-free dial-in number or a live webcast. A Q&A session will follow prepared remarks. The call will be available for replay until March 4, 2022. Presentation slides will be accessible on Unum's Investor site for one year. The company, a provider of workplace benefits for over 170 years, reported $13.2 billion in revenues in 2020.
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