Unum Group today increased the quarterly dividend it pays investors of its common stock.
The Chattanooga-based company's board of directors this morning authorized a new rate of 18.5 cents per share, an increase of 12 percent per share, which equates to 74 cents per share annually.
"Our business continues to generate capital on a consistent basis," said Richard "Rick" McKenney, Unum's president and CEO, in a prepared statement. "This enables us to again increase our common stock dividend to return a portion of our earnings to shareholders while investing in our business and markets."
McKenney became Unum's CEO today, following Tom Watjen, who is retiring and had been Unum's CEO for more than 12 years. Watjen today became chairman of the company's board of directors, a post he will hold for two years. McKenney, who had been Unum's chief financial officer, on April 1 became Unum's president.
For more, read tomorrow's Times Free Press.
Contact staff writer Mitra Malek at mmalek@timesfreepress.com or 423-757-6406. Follow her on Twitter @MitraMalek.