Cigna Group
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Common and Preferred Stock
Note 8 – Common and Preferred Stock
The Cigna Group has a total of 25 million shares of $1 par value preferred stock authorized for issuance. No shares of preferred stock were outstanding at December 31, 2024, 2023 or 2022.
The following table presents the share activity of The Cigna Group:
| For the Years Ended December 31, | |||
|---|---|---|---|
| (Shares in thousands) | 2024 | 2023 | 2022 |
| Common: Par value $0.01; 600,000 shares authorized | |||
| Outstanding- January 1, | 292,504 | 298,676 | 322,948 |
| Net issued for stock option exercises and other benefit plans | 2,198 | 1,619 | 3,173 |
| Repurchased common stock | (20,913) | (7,791) | (27,445) |
| Outstanding- December 31, | 273,789 | 292,504 | 298,676 |
| Treasury stock | 128,723 | 107,390 | 99,143 |
| Issued- December 31, | 402,512 | 399,894 | 397,819 |
Dividends
The following table provides details of the Company's dividend payments:
| Record Date | Payment Date | Amount per Share | Total Amount Paid (in millions) |
|---|---|---|---|
| March 6, 2024 | March 21, 2024 | $1.40 | $401 |
| June 4, 2024 | June 20, 2024 | $1.40 | $392 |
| September 4, 2024 | September 19, 2024 | $1.40 | $390 |
| December 4, 2024 | December 19, 2024 | $1.40 | $384 |
| March 8, 2023 | March 23, 2023 | $1.23 | $368 |
| June 7, 2023 | June 22, 2023 | $1.23 | $362 |
| September 6, 2023 | September 21, 2023 | $1.23 | $362 |
| December 6, 2023 | December 21, 2023 | $1.23 | $358 |
| March 9, 2022 | March 24, 2022 | $1.12 | $357 |
| June 8, 2022 | June 23, 2022 | $1.12 | $352 |
| September 7, 2022 | September 22, 2022 | $1.12 | $341 |
| December 6, 2022 | December 21, 2022 | $1.12 | $334 |
On January 30, 2025, the Board of Directors declared the first quarter cash dividend of $1.51 per share of The Cigna Group common stock to be paid on March 20, 2025 to shareholders of record on March 5, 2025. The Company currently intends to pay regular quarterly dividends, with future declarations subject to approval by its Board of Directors and the Board of Director's determination that the declaration of dividends remains in the best interests of The Cigna Group and its shareholders. The decision of whether to pay future dividends and the amount of any such dividends will be based on the Company's financial position, results of operations, cash flows, capital requirements, the requirements of applicable law and any other factors the Board may deem relevant.
Accelerated Share Repurchase Agreements
In February 2024, as part of our share repurchase program, we entered into separate accelerated share repurchase agreements with Deutsche Bank AG and Bank of America, N.A. to repurchase $3.2 billion of common stock in aggregate. The total number of shares of our common stock repurchased under the agreements was approximately 9.3 million, at $344.98 per share. The per share amount was calculated based on the daily volume-weighted average share price of our common stock over the term of the agreements, less a discount.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.