NU Online News Service, May 21, 3:55 p.m.EDT

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During its stockholders meeting today, Marsh & McLennanCompanies announced it would pay a quarterly cash dividend, andshareholders rejected three proposals from individualshareholders.

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The proposals dealt with changing the corporate domicile state,political contribution reporting and giving authority to callspecial meetings to larger shareholders.

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New York-based MMC, the parent company of insurance broker Marshand reinsurance broker Guy Carpenter said it has declared aquarterly cash dividend of 20 cents a share payable on Aug. 17 toshareholders of record as of July 10.

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Shareholders voted down a proposal to change the company's stateof incorporation from Delaware to North Dakota.

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A second rejected proposal would have given shareholders who own10 percent or more of stock in MMC the power to call specialshareholder meetings. A third called for MMC to prepare a report onpolicies and procedures for political contributions andexpenditures made with corporate funds.

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MMC's board opposed all three moves. It argued against changingthe state of incorporation saying Delaware's laws are more flexibleand case law in the state is settled ensuring legal certainty forthe company.

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A special shareholders meeting was opposed because MMC said itfeared special interest shareholders would use the company'sresources to promote an agenda not in the best interest of MMC.

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On the issue of reporting political contributions andexpenditures, MMC said it is limited by law and that it already hasin place a system for reporting and oversight of politicalaffairs.

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