Louisville, Ky.-based Humana said it will pay a quarterly dividend of 25 cents a share and will also quadruple a share buyback program to $1 billion, adding that first-quarter earnings excluding one-time items totaled $1.86 a share.
The company said full-year earnings will be between $6.70 and $6.90 a share, up from a previous forecast of $5.95 to $6.15. Humana said lower medical bills are part of the reason for the unexpected boost in earnings.
According to the report, Humana said the dividend will be payable on July 28 for shareholders on record as of June 30. The company also announced a reorganization of its business units.
Read the Bloomberg Businessweek report on Humana.
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