Aetna 2012 Annual Report Download - page 128

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Annual Report- Page 122
15. Capital Stock
From time to time, our Board authorizes us to repurchase our common stock. The activity under Board authorized
share repurchase programs in 2012, 2011 and 2010 was as follows:
Shares Purchased
2012 2011 2010
(Millions)
Purchase
Not to
Exceed Shares Cost Shares Cost Shares Cost
Authorization date:
July 27, 2012 $ 750.0 5.3 $ 245.3 — $ — — $ —
February 24, 2012 750.0 17.8 750.0 — — — —
September 23, 2011 750.0 9.2 422.2 7.9 327.8 — —
May 20, 2011 750.0 — — 19.3 750.0 — —
December 3, 2010 750.0 — — 17.9 735.2 .4 14.8
July 30, 2010 1,000.0 — — — — 32.9 1,000.0
February 27, 2009 750.0 — — — — 19.1 591.2
Total repurchases N/A 32.3 $ 1,417.5 45.1 $ 1,813.0 52.4 $ 1,606.0
Repurchase authorization remaining at December 31, N/A $ 504.7 N/A $ 422.2 N/A $ 735.2
In February 2011, we announced that our Board increased our cash dividend to shareholders to $.15 per share and
moved us to a quarterly dividend payment cycle. In December 2011, our Board increased our quarterly cash
dividend to shareholders to $.175 per share. In November 2012, our Board increased our quarterly cash dividend to
shareholders to $.20 per share. On February 19, 2013, our Board declared a cash dividend of $.20 per common
share that will be paid on April 26, 2013, to shareholders of record at the close of business on April 11, 2013. Prior
to February 2011, our policy had been to pay an annual dividend of $.04 per share.
In 2012 and 2011 our Board declared the following cash dividends:
Date Declared Dividend Amount
Per Share Stockholders of
Record Date Date Paid/
To be Paid Total Dividends
(Millions)
February 3, 2011 $ .15 April 14, 2011 April 29, 2011 $ 57.0
May 20, 2011 .15 July 14, 2011 July 29, 2011 55.9
September 23, 2011 .15 October 13, 2011 October 28, 2011 54.3
December 2, 2011 .175 January 13, 2012 January 27, 2012 61.2
February 24, 2012 .175 April 12, 2012 April 27, 2012 60.8
May 18, 2012 .175 July 12, 2012 July 27, 2012 58.5
September 28, 2012 .175 October 11, 2012 October 26, 2012 58.6
November 30, 2012 .20 January 10, 2013 January 25, 2013 65.5
Declaration and payment of future dividends is at the discretion of our Board and may be adjusted as business needs
or market conditions change. Prior to completion of the proposed Coventry acquisition, we are not permitted to
declare, set aside or pay any dividend or other distribution other than a regular cash dividend in the ordinary course
of business consistent with past practice. Our dividend policy following the completion of the proposed acquisition
will be determined by our Board.
In addition to the common stock disclosed on our balance sheets, approximately 8 million shares of Class A voting
preferred stock, $.01 par value per share, have been authorized. At December 31, 2012, there were also 400 million
undesignated shares that our Board has the power to divide into such classes and series, with such voting rights,
designations, preferences, limitations and special rights as our Board determines.