United Healthcare 2005 Annual Report Download - page 18

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Dividend Policy
Our Board of Directors established our dividend policy in August 1990. Pursuant to our dividend policy, the
Board reviews our financial statements following the end of each fiscal year and decides whether to declare a
dividend on the outstanding shares of common stock. Shareholders of record on April 1, 2005 received an annual
dividend for 2005 of $0.015 per share and shareholders of record on April 1, 2004 received an annual dividend
for 2004 of $0.008 per share. On January 31, 2006, the Board approved an annual dividend of $0.03 per share,
which will be paid on April 17, 2006 to shareholders of record on April 3, 2006.
Issuer Purchases of Equity Securities
Issuer Purchases of Equity Securities (1)
Fourth Quarter 2005
For the Month Ended
Total Number of
Shares Purchased
Average Price
Paid per Share
Total Number
of Shares
Purchased as Part
of Publicly
Announced Plans
or Programs
Maximum
Number of Shares
that may yet be
purchased under the
plans or programs
October 31, 2005 .................... 250,000 $56.50 250,000 59,545,100
November 30, 2005 .................. 200,000 $60.40 200,000 59,345,100
December 31, 2005 .................. 3,800,000 $63.31 3,800,000 55,545,100
TOTAL ....................... 4,250,000 $62.77 4,250,000
(1) In November 1997, the company’s Board of Directors adopted a share repurchase program, which the Board evaluates
periodically and renews as necessary. The company announced renewals of the program on November 5,
1998, October 27, 1999, February 14, 2002, October 25, 2002, July 30, 2003, and November 4, 2004. On November 4,
2004, the Board renewed the share repurchase program and authorized the company to repurchase up to 65 million
shares of the Company’s common stock at prevailing market prices. There is no established expiration date for the
program. During the year ended December 31, 2005, the company did not repurchase any shares other than through this
publicly announced program.
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