WellPoint investigated over California dividend payment

May 29, 2007
California regulators are investigating whether a $950 million dividend sent by Blue Cross of California this month to its parent, Indianapolis-based WellPoint Inc., was excessive.

The officials say no more than $141 million should have been paid to WellPoint, according to the Los Angeles Times.

A California insurance commissioner imposed conditions on the former Anthem Inc. before it bought WellPoint in 2004 for $16.4 billion and changed Anthem's name to WellPoint.
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