UNITEDHEALTH GROUP INC

6. Shareholders’ Equity

Dividends

In June 2026, the Company’s Board of Directors increased the Company’s quarterly cash dividend to shareholders to an annual rate of $9.28 compared to $8.84 per share, which the Company had paid since June 2025. Declaration and payment of future quarterly dividends is at the discretion of the Board of Directors and may be adjusted as business needs or market conditions change.

The following table provides details of the Company’s 2026 dividend payments:

Forward Share Repurchase Contracts

During the six months ended June 30, 2026, the Company entered into forward contracts with a counterparty to repurchase up to $2.0 billion of its common stock, with settlement on or before July 1, 2026. A liability is established within other current liabilities on the Condensed Consolidated Balance Sheets with a corresponding reduction to additional paid-in-capital for the fair market value of the shares repurchased on the date the contract is completed. During the six months ended June 30, 2026, the counterparty completed the purchase of 6.4 million shares at an average price of $312.73 per share. As of June 30, 2026, the Company had a liability of $2.0 billion related to the settlement of the forward contracts, which was paid on July 1, 2026. The calculation of basic and diluted earnings per share includes an immaterial reduction to net earnings attributable to UnitedHealth Group common shareholders for undistributed earnings attributable to the shares held by the counterparty for both the three months and six months ended June 30, 2026.