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 nine months ended September 30, 2026, the Company entered into forward contracts with a counterparty to repurchase up to $2.0 billion of its common stock, which were settled on July 1, 2026. During the nine months ended September 30, 2026, the counterparty completed the purchase of 6.4 million shares at an average price of $312.73 per share. 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 the nine months ended September 30, 2026.

Share Repurchase Program

In November 2026, the Company’s Board of Directors amended the Company’s share repurchase program to authorize the repurchase of up to 50 million shares of Common Stock, in addition to all remaining shares authorized to be repurchased under the Board’s 2024 renewal of the program.