Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it would increase its dividend payment by one cent and named Norman L. Rosenthal to its board of directors.
Gallagher said the quarterly cash dividend on the company's common stock was increased to 32 cents per share. The dividend will be payable on April 15 to shareholders of record as of March 31.
Mr. Rosenthal is currently president of Norman L. Rosenthal & Associates Inc., a management consulting firm that specializes in the property-casualty insurance industry. From 1981 to 1996, he was a managing director and senior equity research analyst at Morgan Stanley & Co. where he followed the p-c insurance industry.
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