American International Group Inc. announced at its annual meeting today that the company is raising its quarterly cash dividend 20 percent to 15 cents a share.

Chief Executive Officer Martin Sullivan revealed the move at a session which paid homage to the insurer's storied past, but put emphasis on a different future.

All 15 directors won re-election to the board. As part of its corporate governance reform effort three new independent directors will soon join the board and the chairman and CEO jobs will remain separate.

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