Health insurance provider Humana has raised its full-year profit forecast and will begin paying a dividend following lower-than-expected medical costs in the first quarter, according to a Bloomberg Businessweek report.
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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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.
Related Articles on Health Insurance:
Court Ruling: Outside Vendor Can Determine Arizona Workers Comp Rates for Surgery Centers
California Workers Comp Introduces E-Billing
Lawsuits Over Out-of-Network Charges in New Jersey an Alarming Trend for Providers