Aetna doubled its dividend and declares additional share buyback or repurchases Friday.
The announcement followed news previously in the week the health insurance company will terminate its merger with Humana.
Earlier, shares had fallen 3.5% ahead of the dividend announcement before trade was halted. The stock resumed trade rising off of session lows, ending the day about 3.3% lower.
The insurer doubled its quarterly cash dividend from the previous quarter to 50 cents per share of common stock, in accordance to a release. Aetna also authorized up to an extra $4 billion in repurchases of its common stock, adding to the almost $1.1 billion remaining under the existing share repurchase programs of company.
With Friday’s decline, shares were up about 1% for the year of 2017.
Aetna and rival Humana declared earlier this week that they are terminating their merger, after their $34 billion deal was blocked by a federal court on antitrust grounds. Aetna will pay Humana a $1 billion break-up fee, in accordance with the agreement.
Humana has decided to exit and leave the Obamacare exchange market in the year of 2018, setting off alarm bells for health insurers and regulators such as Aetna, even as the Trump administration releases new rules to try to stabilize the exchanges.
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