Unum Group (UNM) will raise its quarterly dividend by 5.3 percent to 30 cents per share in 2021. This follows a dividend hike of 9.6 percent to $0.285 per share in 2019. This marks the 13th consecutive year of dividend increases by the financial protection benefits company.
A new annual rate of $1.20 per share yields 4.4% at a stock price of $28.
Unum Group is a leading provider of financial protection benefits in the United States and the United Kingdom. Its primary businesses are Unum US, Colonial Life, Starmount and Unum UK. Unum’s portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs.