Coventry Health initiates 12.5 cent dividend

Health insurer Coventry Health Care Inc. said Monday it will pay its first quarterly cash dividend in April.

By Associated Press | March 12, 2012 at 07:09 AM

BETHESDA, Md. (AP) — Health insurer Coventry Health Care Inc. said Monday it will pay its first quarterly cash dividend in April.

Coventry said it will pay a dividend of 12.5 cents on April 9 to shareholders of record on March 23. It said the cash dividend will be the first in its history.

Chairman and CEO Allen Wise said the company's strong balance sheet allows Coventry to pay a dividend, consider strategic acquisitions, and buy back shares.

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In morning trading, shares of the company slipped 14 cents to $33.03.

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