Aetna 2013 Annual Report Download - page 134

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Annual Report- Page 128
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 2013, 2012 and 2011 was as follows:
Purchase
Not to
Exceed
Shares Purchased
2013 2012 2011
(Millions) Shares Cost Shares Cost Shares Cost
Authorization date:
September 27, 2013 $ 750.0 2.3 $ 153.0 — $ — — $ —
February 19, 2013 750.0 11.6 750.0 — — — —
July 27, 2012 750.0 9.1 504.7 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
Total repurchases N/A 23.0 $ 1,407.7 32.3 $ 1,417.5 45.1 $ 1,813.0
Repurchase authorization remaining at December 31, N/A $ 597.0 N/A $ 504.7 N/A $ 422.2
Prior to February 2011, our policy had been to pay an annual dividend of $.04 per share. 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. In December 2013, our Board increased our quarterly cash dividend to shareholders to $.225 per share. On
February 28, 2014, our Board declared a cash dividend of $.225 per share that will be paid on April 25, 2014 to
shareholders of record at the close of business on April 10, 2014.
In 2013 and 2012 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 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
February 19, 2013 .20 April 11, 2013 April 26, 2013 65.3
May 17, 2013 .20 July 11, 2013 July 26, 2013 74.4
September 27, 2013 .20 October 10, 2013 October 25, 2013 73.5
December 6, 2013 .225 January 16, 2014 January 31, 2014 81.4
Declaration and payment of future dividends is at the discretion of our Board and may be adjusted as business needs
or market conditions change.
On the Effective Date, we issued approximately 52.2 million Aetna common shares with a fair value of
approximately $3.1 billion and paid approximately $3.8 billion in cash in exchange for all the outstanding shares of
Coventry common stock and outstanding awards.