Unum Group's board of directors authorizes $500 million share repurchase program

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Oct 31, 2023, 16:10 ET

CHATTANOOGA, Tenn., Oct. 31, 2023 /PRNewswire/ -- Unum Group (NYSE:UNM) announced today that its board of directors has approved a share repurchase program authorizing the company to repurchase up to $500 million of its common stock from time to time beginning on January 1, 2024. This program follows the company's current share repurchase program, which expires on December 31, 2023.

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.

About Unum Group
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 about $12 billion and paid $8 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