The Board of Directors of Aetna Inc. (NYSE: AET) today announced the following actions.
The Board declared a quarterly cash dividend of $0.225 per share on the company's common stock. The dividend was declared on February 28, 2014, and is payable on April 25, 2014, to shareholders of record at the close of business on April 10, 2014. Declaration and payment of future quarterly dividends is at the discretion of the Board and may be adjusted as business needs or market conditions change.
The Board authorized the company to repurchase up to an additional $1 billion of its common stock from time to time. This authorization is in addition to the approximately $388 million of repurchase authority available under Aetna's prior authorization as of February 27, 2014. The company intends to continue buying shares in the open market from time to time.