Unum Group’s Board of Directors Authorizes $1 Billion Share Repurchase Program
Unum Group (NYSE: UNM) has announced a new $1 billion share repurchase program authorized by its board of directors, set to commence on April 1, 2025. The company's current share repurchase program will terminate on March 31, 2025, with any unused amounts expiring on that date.
Management will determine the timing and amount of share repurchases based on market conditions and other factors. The repurchases may be executed through various means, including open market transactions, privately negotiated deals, accelerated share repurchase programs, or preset trading plans under Rule 10b5-1. The board retains the right to suspend, modify, or terminate the program at any time.
Unum Group (NYSE: UNM) ha annunciato un nuovo programma di riacquisto di azioni da 1 miliardo di dollari autorizzato dal suo consiglio di amministrazione, che inizierà il 1 aprile 2025. L'attuale programma di riacquisto delle azioni dell'azienda terminerà il 31 marzo 2025, con eventuali importi non utilizzati che scadranno in quella data.
La direzione stabilirà il momento e l'importo dei riacquisti di azioni in base alle condizioni di mercato e ad altri fattori. I riacquisti possono essere eseguiti attraverso vari mezzi, tra cui transazioni sul mercato aperto, accordi negoziati privatamente, programmi di riacquisto accelerato di azioni o piani di trading predefiniti ai sensi della Regola 10b5-1. Il consiglio si riserva il diritto di sospendere, modificare o terminare il programma in qualsiasi momento.
Unum Group (NYSE: UNM) ha anunciado un nuevo programa de recompra de acciones de 1 mil millones de dólares autorizado por su junta directiva, que comenzará el 1 de abril de 2025. El programa actual de recompra de acciones de la compañía finalizará el 31 de marzo de 2025, con cualquier monto no utilizado que expirará en esa fecha.
La dirección determinará el momento y la cantidad de las recompras de acciones en función de las condiciones del mercado y otros factores. Las recompras pueden llevarse a cabo a través de varios medios, incluidas transacciones en el mercado abierto, acuerdos negociados de forma privada, programas de recompra acelerada de acciones o planes de negociación preestablecidos bajo la Regla 10b5-1. La junta se reserva el derecho de suspender, modificar o finalizar el programa en cualquier momento.
Unum Group (NYSE: UNM)는 이사회에서 승인한 새로운 10억 달러 규모의 자사주 매입 프로그램을 발표했으며, 이는 2025년 4월 1일에 시작될 예정입니다. 회사의 현재 자사주 매입 프로그램은 2025년 3월 31일에 종료되며, 사용되지 않은 금액은 그 날짜에 만료됩니다.
경영진은 시장 상황 및 기타 요소에 따라 자사주 매입의 시기와 금액을 결정할 것입니다. 매입은 공개 시장 거래, 비공식 협상 거래, 가속 자사주 매입 프로그램 또는 규칙 10b5-1에 따른 사전 설정 거래 계획을 포함한 다양한 방법을 통해 실행될 수 있습니다. 이사회는 언제든지 프로그램을 중단, 수정 또는 종료할 권리를 보유합니다.
Unum Group (NYSE: UNM) a annoncé un nouveau programme de rachat d'actions de 1 milliard de dollars autorisé par son conseil d'administration, qui commencera le 1er avril 2025. Le programme actuel de rachat d'actions de l'entreprise prendra fin le 31 mars 2025, avec tout montant inutilisé qui expirera à cette date.
La direction déterminera le moment et le montant des rachats d'actions en fonction des conditions du marché et d'autres facteurs. Les rachats peuvent être effectués par divers moyens, y compris des transactions sur le marché ouvert, des accords négociés en privé, des programmes de rachat accéléré d'actions ou des plans de négociation prédéfinis en vertu de la règle 10b5-1. Le conseil se réserve le droit de suspendre, modifier ou mettre fin au programme à tout moment.
Unum Group (NYSE: UNM) hat ein neues Aktienrückkaufprogramm über 1 Milliarde Dollar angekündigt, das von seinem Vorstand genehmigt wurde und am 1. April 2025 beginnen soll. Das aktuelle Aktienrückkaufprogramm des Unternehmens endet am 31. März 2025, wobei ungenutzte Beträge an diesem Datum verfallen.
Das Management wird den Zeitpunkt und die Höhe der Aktienrückkäufe basierend auf den Marktbedingungen und anderen Faktoren festlegen. Die Rückkäufe können auf verschiedene Weise durchgeführt werden, einschließlich Transaktionen auf dem offenen Markt, privat ausgehandelten Vereinbarungen, beschleunigten Aktienrückkaufprogrammen oder festgelegten Handelsplänen gemäß Regel 10b5-1. Der Vorstand behält sich das Recht vor, das Programm jederzeit auszusetzen, zu ändern oder zu beenden.
- Authorization of substantial $1 billion share repurchase program
- Demonstrates strong commitment to returning value to shareholders
- Flexible implementation allowing management to optimize timing and execution
- Program doesn't start until April 2025, indicating delayed shareholder returns
- Current buyback program termination could leave unused amounts expired
Insights
The authorization of a
Several strategic implications emerge from this announcement:
- The size and timing of the program suggest strong confidence in Unum's future cash flow generation capabilities, particularly important for an insurance company where capital adequacy is crucial.
- The flexible structure of the program, allowing for various repurchase methods including accelerated share repurchase (ASR) and open market purchases, provides management with tactical advantages in execution.
- The April 1, 2025 start date indicates careful planning and coordination with the expiration of the current program, ensuring continuous capital return capabilities while maintaining prudent capital management.
From a financial perspective, this commitment carries multiple implications:
- The program's size relative to market cap suggests management views the current valuation as attractive, particularly given the alternative capital deployment options available in the insurance sector, such as portfolio investments or M&A.
- The authorization's structure, allowing for market condition-based execution, provides important downside protection and flexibility in implementation.
- This level of capital return indicates robust underlying business fundamentals and strong free cash flow generation, essential for maintaining both shareholder returns and regulatory capital requirements in the insurance industry.
While the program demonstrates financial strength, it's important to note that actual execution will depend on market conditions and competing capital needs. The board's retention of the right to modify or suspend the program provides necessary flexibility should market conditions or business needs change significantly.
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.
Forward-Looking Statements
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.
About Unum Group
Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2024, Unum Group reported revenues of
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MEDIA
Emily Downing-Baer
edowning@unum.com
INVESTORS
Matt Royal
investorrelations@unum.com
Source: Unum Group
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