12:54:53 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Unitedhealth CDR (CAD Hedged)
Symbol UNH
Shares Issued 3,150,000
Close 2024-04-29 C$ 23.54
Market Cap C$ 74,151,000
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Globe columnist Pape touts fast-growing Unitedhealth

2024-04-30 08:51 ET - In the News

The Globe and Mail reports in its Tuesday edition that Unitedhealth Group's share price boasts an average annual growth rate of 22 per cent over the past 15 years and it pays a quarterly dividend of $1.88 a share (all figures U.S.). Guest columnist Gordon Pape writes that Unitedhealth also has nearly $33-billion in the bank. Mr. Pape calls it one of the world's dullest and most rewarding companies. He first bought the stock 10 years ago for $76; it now trades at just under $500. Unitedhealth is the world's largest health insurance provider by revenue; its market cap is $450-billion. In 2023, UNH reported revenues of $371.6-billion, up 14.6 per cent year-over-year. Earnings attributable to common shareholders were $22.4-billion ($23.86 a share). The company's return on equity was an impressive 27 per cent. UNH's origins go back to 1974 with the founding of Minnesota-based Charter Med Inc. The company originally processed claims for doctors at the local Hennepin County Medical Society. It went public in 1984 and changed its name to Unitedhealth in 1998. UNH has grown organically and by acquisition over the years since. Mr. Pape says now is a good time to buy, with the share price down more than 10 per cent from its high.

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