May 5, 2023

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CNO Financial Group, Inc. (NYSE:CNO), a holding company for several insurance subsidiaries, announced on May 6, 2023, that its Board of Directors has approved an additional $500 million to repurchase the company's outstanding common stock. The move comes as the company's previous share repurchase program was nearing its end.

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Share repurchase program details

As of March 31, 2023, CNO had approximately $172 million of remaining repurchase capacity under its share repurchase program. The repurchase program is intended to be implemented through purchases made from time to time in the open market, through private transactions or by a tender offer, in accordance with Securities and Exchange Commission requirements. The company said that the amount and timing of the repurchases, if any, will be based on business and market conditions and other factors.

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Dividend increase announcement

CNO Financial Group also announced that its Board of Directors has approved a $0.01 per share increase in its quarterly dividend, marking its eleventh consecutive annual increase. The Board declared a quarterly cash dividend of $0.15 per share on the company's common shares, payable June 23, 2023, to shareholders of record at the close of business on June 9, 2023.

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Members of LevelFields received the alert of this event on May 5, 5:00 PM ET

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