BLOOMFIELD - The Cigna Group (NYSE:CI), a global health service company, has announced a quarterly cash dividend of $1.40 per share on its common stock. The dividend is scheduled to be paid on June 20, 2024, to shareholders who are on record by the close of business on June 4, 2024.
This declaration by the company's Board of Directors reflects Cigna's ongoing commitment to delivering value to its shareholders. The Cigna Group operates under various brands, including Cigna Healthcare and Evernorth Health Services, and its subsidiaries, providing a wide range of health services.
With a presence in over 30 countries and jurisdictions, Cigna has established a significant global footprint. The company prides itself on its innovative approach to health solutions and maintains relationships with more than 183 million customers worldwide.
The information regarding the dividend declaration is based on a press release statement from The Cigna Group. No further details about the company's financial performance or future dividend plans were disclosed in the press release. Shareholders and investors are encouraged to monitor the company's performance as the payment date approaches.
Cigna's stock is publicly traded on the New York Stock Exchange under the ticker symbol CI. The announcement of the dividend is a key piece of information for investors and market watchers, providing insights into the company's financial health and its priorities in terms of capital allocation.
It is important to note that the dividend payment is subject to customary conditions, and the company has not made any statements regarding changes to its dividend policy or future payouts. The announcement is purely factual, and no endorsement or evaluation of the company's market position or future prospects is implied.
InvestingPro Insights
The Cigna Group's recent announcement of a quarterly cash dividend is a testament to its commitment to shareholder returns. According to real-time data from InvestingPro, Cigna boasts a market capitalization of approximately $100.02 billion, reflecting its significant presence in the healthcare industry.
The company's P/E ratio stands at 20.06, while the adjusted P/E ratio for the last twelve months as of Q4 2023 is 14.79, suggesting a potentially more attractive valuation for investors considering the company's earnings.
InvestingPro Tips indicate that Cigna has been recognized for its shareholder-friendly actions, including a track record of raising its dividend for 3 consecutive years and maintaining dividend payments for an impressive 43 consecutive years.
This consistency in rewarding shareholders is coupled with a strong free cash flow yield, as suggested by the company's valuation. Additionally, Cigna's stock has been known to trade with low price volatility, which could appeal to investors looking for stable returns.
Furthermore, the company's dividend yield as of mid-February 2024 stands at 1.59%, with a notable dividend growth of 25.0% over the last twelve months. These figures underscore Cigna's position as a reliable dividend payer in the Healthcare Providers & Services industry. For investors interested in exploring more about Cigna's financial health and investment potential, there are over 10 additional InvestingPro Tips available, which can be found at https://www.investing.com/pro/CI. Be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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