UnitedHealth Group Inc
UnitedHealth may now repurchase up to 120 million shares, including about 23 million remaining under a previous buyback program. At Tuesday's closing price of $33, buying back 120 million shares would equate to nearly $4 billion.
UnitedHealth bought back 74 million shares in 2009 at a weighted average purchase price of $24.26 each.
The company had about 1.15 billion common shares outstanding as of December 31.
UnitedHealth's board also authorized an annual dividend of 3 cents per share, to be paid in April. The company paid a 3-cent-per-share dividend last year.
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(Reporting by Lewis Krauskopf; Editing by Lisa Von Ahn)